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If the unionized labor input constitutes a large share of the total production cost of a product, then it is likely that: an increase in
If the unionized labor input constitutes a large share of the total production cost of a product, then it is likely that: an increase in the wage of unionized workers will increase the demand for the product that the union workers produce. a decrease in the wage of unionized workers will derease the demand for the product that the union workers produce. the demand for labor will likely be relatively price elastic. the demand for labor will likely be relatively price inelastic
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