An import quota is an example of

How does competition from nonunion firms and foreign producers affect the ability of a union to increase the wages of its members?

a. Such competition makes it easier for the union to achieve wage increases. b. Such competition reduces the ability of a union to achieve wage increases. c. Such competition does not affect the ability of a union to achieve wage increases. d. Such competition will increase the strength of a union if it produces a product sold in the domestic market but will reduce the strength of the union if it produces an export product.

Which of the following is an example of natural monopoly?

A. a market for cable TV services B. a market for breakfast cereals C. a market for cold medicines D. a market for cigarettes