Answer to Question #128287 in Economics of Enterprise for siphesihle

Question

Which one of the following statements is INCORRECT? (2) (1) Trade unions act as monopolistic suppliers of labour. (2) Labour markets are sometimes monopolistic, meaning there is only one major employer. (3) Employers and employees usually have perfect knowledge about the labour market conditions in which they operate.

Answer 1

2.labour markets are sometimes monopolistic, meaning there is only one major employer