Economics 0455 · IGCSE · Trade unions

Trade unions — practice question

If a trade union manages to push wages in an industry above the equilibrium wage, how would the demand for labour and the supply of labour be affected?

  • Ademand: fall, supply: fall
  • Bdemand: fall, supply: rise
  • Cdemand: rise, supply: fall
  • Ddemand: rise, supply: rise

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