It can be shown that an industry demand for labor will become more elastic when the demand for the industry's product becomes more elastic. Let's consider the implications of this fact for the South Koreans automobile industry and the South Korean car workers' union. A. What happened to the elasticity of demand for South Korean cars when Thailand developed its car industry? What happened to the elasticity of demand for south Korean car workers? Explain. B. As the chapter explains, a union generally faces a tradeoff in deciding how much to raise wages, because a bigger increase is better for workers who remain employed but also results in a greater reduction employment. How did the rise in car imports from Thailand affect the wage-employment tradeoff faced by the South Korean car workers' union? C. Do you think the growth of Thailand's car industry increased or decreased the gap between the competitive wage and the wage chosen by the South Korean car worker's union? Explain