describe the difference between craft and industrial unions attempt to raise the wage rates of their members. Enlighten on their different approaches and impact of the differences on the excess quantity of labor supplied Concept Introduction: Craft unions: represents a group of workers or trade union of workers who engage in the same skill Industrial unions: this is where all workers in the same industry are organized into the same union, regardless of differences in their talents. Excess quantity of labor supplied: this is a situation where the quantity of a good or service supplied is more than its quantity demanded for the good or service.

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1. The next two questions are about the labor market for upholsterers, who are people who do custom upholstery (the fabric on furniture). A new type of pre-sewn fabric piece reduces the amount of work that an upholsterer needs to do on each piece of furniture, increasing how much work each individual upholsterer can do for the same amount of effort. This is describing a change in some part of the labor demand or labor supply curves. Which part? a. Group of answer choices b. Price of the good (P) c. Marginal productivity of labor (MPL) d. The labor/leisure tradeoff in the supply curve e. The minimum wage 2. Assume that the new pre-sewn fabric ends up making the wage of upholsterers go up. You also observe that very few tailors, which is a similarly difficult job, decide to switch from being tailors to being upholsterers in response to the wage increase. What is this most likely an example of? a. Group of answer choices b. Taste-based discrimination c. Compensating…

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Chapter 12, Problem 3.5PA

To determine

describe the difference between craft and industrial unions attempt to raise the wage rates of their members. Enlighten on their different approaches and impact of the differences on the excess quantity of labor supplied

Concept Introduction:

Craft unions: represents a group of workers or trade union of workers who engage in the same skill

Industrial unions: this is where all workers in the same industry are organized into the same union, regardless of differences in their talents.

Excess quantity of labor supplied: this is a situation where the quantity of a good or service supplied is more than its quantity demanded for the good or service.

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