The legality of trade unions as the labor monopolies and illegality of the monopolies in product markets is most rationally described by the: (i) Trade union’s interest in the social welfare and firm’s interest only in gains. (ii) Number of people who advantage from unions compared with the number who gain from the monopoly gains. (iii) Drawbacks individual workers face whenever bargaining with big employers, who frequently collectively represent hundreds of stock-holders. (iv) Higher intelligence and cunning of the staff.
Find out the right answer from the above options.