A profit-maximizing monopoly will produce that output for which
a. marginal revenue equals price.
b. average cost is minimized.
c. marginal cost is minimized.
d. marginal cost equals marginal revenue.
d
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(Last Word) Based on the concept of price elasticity of demand, which of the following cases is most likely to occur?
A. Golf courses charging higher prices for golf during the week than on weekends. B. Movie theaters charging higher prices for senior citizens. C. Colleges charging lower tuition for low-income students. D. Airlines charging lower fares for business travelers.
The Human Resources department at a firm has two job candidates for one position. Both candidates went to the same college, took the same classes, and have the same academic record. They both performed well in the interview and said that they see the job as a long-term position. One applicant is male; the other is female. Historically within the firm, women quit their jobs at higher rates than do men. Because of this, the firm fills the position with the male candidate. What kind of discrimination is this?
A. consumer discrimination B. employee discrimination C. statistical discrimination D. employer discrimination E. None of these is examples of discrimination.