Question: An article in the Wall Street Journal discussed why the hotel workers' union in New York City was against a proposal for more hotels to

An article in the Wall Street Journal discussed why the hotel workers' union in New York City was against a proposal for more hotels to be built in Midtown Manhattan: "The union is concerned that rapid hotel development shrinks room prices and profit margins, driving down the wages of its members." Is the union's reasoning consistent with the economic analysis in this chapter? Briefly explain.

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