Total profit equals

Many economists are critical of proposals to pass comparable worth legislation. Which of the following is the best explanation for this criticism?

A) Proposals for comparable worth legislation assume that wages for low-paying women's jobs should include compensating differentials. Economists believe that compensating differentials should be part of the wages for all jobs held by women. B) Proposals for comparable worth legislation call for increases in the wages of jobs held predominantly by women. Economists believe that this legislation should be used to increase the wages of all workers. C) Many economists believe that allowing markets to determine wages, rather than the rules required by comparable worth legislation, results in more efficient outcomes. D) Comparable worth legislation will only lead to efficient market outcomes if women in low-paying jobs suffer from cognitive dissonance.

Returns to scale is a concept that operates

A) only in the short run. B) only in the long run. C) in both the long run and the short run. D) in either the long run or the short run, but never both.