A labor union undertakes a training program for its members. The objective of the training program is to
A)increase substitute factor prices.
B)increase the marginal physical product of its members and therefore increase the demand for their services.
C)reduce the availability of substitutes for the product it produces.
D)lower the supply of its labor.

Question

Quizplus · Accepted Answer

The objective of the labor union's training program is to increase the skills and productivity of its members, thereby increasing their marginal physical product and the demand for their services. This can lead to higher wages and better working conditions for union members.

A Labor Union Undertakes a Training Program for Its Members