Discrimination based on individual characteristics that don't affect job performance:
A. may be profit-maximizing in some cases.
B. is not costly to a firm and thus is easy to eliminate.
C. is the hardest kind of discrimination to eliminate.
D. is costly to a firm, and so market forces will work toward eliminating it.
Answer: D
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A removal or depletion tax on an open-access resource increases the marginal private cost of using the resource by
a. zero b. the amount of the tax c. the marginal product of the resource d. the average private cost of using the resource e. the average social cost of using the resource
Economists assume that monopolists behave as
a. cost minimizers. b. profit maximizers. c. price maximizers. d. maximizers of social welfare.
Suppose the U.S. inflation rate falls while the inflation rate among the members of the European Monetary Union (EMU) holds constant. Other things equal, what will happen in the balance of payments accounts?
What will be an ideal response?
For a monopoly, the value of the next worker equals
A) MR ? MPL. B) p ? MPL. C) MPL. D) w/MPL.