Unions try to create what market structure?

Question

a. A monopoly in the market for labor.
b. Perfect competition in the market for an output.
c. Monopolistic competition in the market for an output.
d. An oligopoly in the sale of labor.

Answer 1

Unions primarily try to create:

a. A monopoly in the market for labor.

Unions seek to negotiate better wages, benefits, and working conditions for their members by consolidating their bargaining power, effectively acting as a single supplier of labor to employers. This creates a form of monopoly in the labor market, as the union represents a significant portion of workers in a particular industry or sector.