When a child-care agency refuses to hire Jack simply because he is male, it is called:
a. wage discrimination
b. job-entry discrimination.
c. affirmative action.
d. environmental factor discrimination.
b
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Economic growth means:
A. more production of goods and services. B. people maintain their standard of living. C. all of a nation’s citizens must be better-educated. D. in general tax revenues are lower.
A monopolist earns $1,000,000 economic profit in the short run producing 25,000 units of a good. The marginal revenue of the 25,000th unit is $23 and the marginal cost is $30 . What should the monopolist do?
a. raise price and produce less than 25,000 units b. lower price and produce less than 25,000 units c. raise price and produce more than 25,000 units d. lower price and produce more than 25,000 units e. produce more than 25,000 units at the same price
A monopolistic competitor can expect to earn an economic profit in the long run
a. True b. False Indicate whether the statement is true or false
One reason that helps to explain the law of supply is the law of
A) diminishing marginal utility. B) diminishing marginal returns. C) decreasing opportunity costs. D) demand.