The factor accounting for most of the earnings difference between equally educated and experienced men and women is that women
a. receive less pay for equal work.
b. are segregated into low-paying occupations.
c. receive comparable pay only when they do work of comparable value to the employer.
d. are prohibited by law from doing certain kinds of work.
b
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Acme Home Builders, Inc, has built 24 houses so far this year at a total cost to the company of $4.80 million. If the company builds a 25th house, its total cost will increase to $5.05 million. Which of the following statements is correct?
a. For the first 24 houses, the average cost per house was $205,000. b. The marginal cost of the 25th house, if it is built, will equal $250,000. c. If the company can sell the 25th house for at least $202,000 . then it should build it. d. All of the above are correct.
In a perfectly competitive market, the process of entry and exit will end when
a. price equals minimum marginal cost. b. marginal revenue equals marginal cost. c. economic profits are zero. d. accounting profits are zero.