A labor union is a(n)
a. single seller of labor on the labor market
b. single buyer of labor on the labor market
c. organization of workers who produce goods that are sold in union shops
d. organization of workers who typically strike to obtain high wage rates
e. organization of workers who refuse to work unless they are paid a wage rate above MRP
A
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Relative Importance
What will be an ideal response?
Kathleen likes avocado and crab dip. After eating avocado and crab dip with four crackers, she switches to cheese with crackers. We can conclude that
A. at this point cheese and crackers have a higher marginal utility per dollar spent than that of avocado and crab dip with crackers. B. the avocado and crab dip cannot have tasted that good. C. the avocado and crab dip with crackers now has a marginal utility of zero. D. Kathleen is no longer maximizing her utility.