If firms are competitive, then labor-market discrimination
a. cannot exist in either the short run or the long run.
b. will be more of a problem than if the market were monopolistic or imperfectly competitive.
c. likely will not be a long-run problem unless customers exhibit discriminatory preferences or government maintains discriminatory policies.
d. likely will be more of a problem in the long run than in the short run due to the zero-profit condition that characterizes long-run equilibrium for competitive firms.
c
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In the long run,
a. a larger budget deficit means a larger money supply b. lower investment spending means slower growth of the standard of living c. a larger budget deficit means lower consumption spending d. a larger budget surplus means a smaller capital stock e. government spending has no effect on the budget deficit or surplus
A depreciation of the U.S. dollar in the foreign exchange market lowers U.S. Real GDP when the _____________ shift of the SRAS curve exceeds the __________ shift of the AD curve
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward