An increasing-cost industry occurs because the entry of new firms, prompted by an increase in demand, causes the long-run average cost curve of each firm to shift upward, which increases the minimum efficient scale of production. INCREASING-COST INDUSTRY: A perfectly competitive industry with a positively-sloped long-run industry supply curve that results because expansion of the industry causes higher production cost and resource prices. Even in modern times, organized labor represents only a fraction of the total labor force in the United States, something less than a fourth. Prior to the onset of the labor union movement in the mid-1800s, labor was not organized, meaning that each and every worker acted independently in the pursuit of wages, fringe benefits, or improved working conditions. Of course, to be "organized" labor, labor needs to "organized," which is what labor unions are all about. ORGANIZED LABOR: The general term used when referring to the collection of labor unions representing the interests of workers. AmosWEB means Economics with a Touch of Whimsy!
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