Tying contracts are agreements between unions and businesses such that when a labor contract is signed,...

Transcribed Image Text:

"Tying contracts" are agreements between unions and businesses such that when a labor contract is signed, the union and the firm are bound by its terms. selling to a retailer on the condition that the retailer not resell the product to another business. selling to a retailer on the condition that the retailer not carry any rival products. arrangements whereby the sale of one product is dependent on the purchase of some other product. "Tying contracts" are agreements between unions and businesses such that when a labor contract is signed, the union and the firm are bound by its terms. selling to a retailer on the condition that the retailer not resell the product to another business. selling to a retailer on the condition that the retailer not carry any rival products. arrangements whereby the sale of one product is dependent on the purchase of some other product.