00:01
Consider an economy with two labor markets, one for manufacturing workers and one for service workers.
00:07
Suppose initially that neither is unionized.
00:09
Which of the following will happen to the manufacturing labor market if manufacturing workers formed a union? check all that apply.
00:17
A, the wage of manufacturing workers will rise.
00:20
B, the quantity of manufacturing workers demanded will fall.
00:25
C, the quantity of manufacturing workers supplied will rise.
00:29
Or d, there will be an increase in employment of management of man.
00:31
Manufacturing workers.
00:33
If union is formed in the manufacturing sector, the union will push for higher wages, so the wages would rise.
00:50
This would lead to a reduction in the quantity of labor demanded, but the quantity of labor supply will increase.
01:34
Therefore, some workers in the manufacturing sector will become unemployed.
01:38
As such, the statements that are correct are a, the wage of manufacturing workers will rise...