Closed Shops problems

Firms which agreed to hire only workers who were already the union members would be operating: (1) Agency shops. (2) Bilateral monopolies. (3) Monopsonistic shops. (4) Union shops. (5) Closed shops.

#### Related Questions in Microeconomics

• ##### Q :Problem on purchasing newly-issued

Can someone please help me in finding out the accurate answer from the following question. The individual who purchases a newly-issued corporate bond is: (i) Borrowing money from corporation. (ii) Lending money to corporation. (iii) Purchasing a share of corporation.

• ##### Q :Affect of total utility to marginal

Whenever total utility is at a maximum, then marginal utility is: (1) Rising. (2) Reducing. (3) Zero. (4) Similar as total utility.

Can someone help me in getting through this problem.

• ##### Q :Occurrence of economic profits in a

Entry within a competitive industry will continue till: (w) accounting losses are driven to zero. (x) economic profits equal accounting losses. (y) bookkeeping profit approaches zero. (z) economic profits are driven to zero.

Can an

• ##### Q :Cross-elasticity of demand Interpret

Interpret the following Cross-Price Elasticities of Demand (XED) and explain the relationship between these goods. (3 marks total, 1.5 marks per part) XED= + 0.64 and XED= -2.6

• ##### Q :Price crosses elasticity of demand for

When each 1 percent hike in the price of pencils causes a 2 percent decline within the quantity of erasers sold, the price crosses elasticity of demand for such complementary goods is about: (1) -2.0. (2) -1.0. (3) -4.0. (4) 2.0. (5) 1.0.

• ##### Q :Market period disequilibrium At the

At the price P1, this purely competitive Christmas tree industry is within: (w) long-run equilibrium. (x) short-run equilibrium. (y) market period disequilibrium. (z) short-run disequilibrium.

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• ##### Q :Purely-competitive output by profit

Profit is maximized when this purely-competitive brickyard constructs at: (i) point a. (ii) point b. (iii) point c. (iv) point d. (v) point e.

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• ##### Q :How is a shift in demand reflected in a

How is a shift in demand reflected in a demand equation? How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?