Management's power in collective bargaining sessions rests on
A. The firm's market power in pricing its product.
B. The ability to lock out workers by closing stores or factories.
C. The ability to fire nonunionized workers.
D. The company's stock valuation.
Answer: B
Economics
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A natural monopoly, such as the local telephone company, is characterized by
a. a lack of natural competitors b. low fixed costs and diseconomies of scale c. economies of scale d. a lack of government regulation e. constant costs of production
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The Phillips Curve shows the trade-off between:
a. unemployment and output. b. inflation and output. c. unemployment and inflation. d. imports and exports. e. unemployment and imports.
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