While it is generally accepted that unions lower employment levels in an industry because of the wage premiums they obtain, there is less agreement on how unions affect an industry's response to changes in output demand. By obtaining a greater percentage of their compensation in fixed fringe...

The state of Wisconsin's Unfair Sales Act prevents the sale of any item below cost in order to attract business, and specifically requires petrol (gasoline) stations to mark up their prices by at least 6% over the wholesale price. While the ostensible reason for this law is to protect small,...