Question

Select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies

Answer 1

Labor unions can increase wages through:  

collective bargaining

Reducing supply of labor

and  increasing demand for labor

In collective bargaining, the workers can send their representatives to negotiate new working terms with employers (including work hours and increasing wages).

Reducing supply of labor would make the existing laborers become more lucrative, rare and valued. This would resulted in an increase of workers' wages.,

Increasing demand for labor can be done by improving the members' skills through courses or seminar. By having additional skills, the members can be eligible to harder and more rare job opportunities. This usually correlate with higher wages

Answer 2

Answer:

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