Some economists are skeptical of the argument that employers are responsible for discriminatory wage differences. They argue that market economies provide a natural remedy to employer discrimination, and that remedy is
a. social responsibility.
b. the profit motive.
c. fear of reprisal from groups that suffer from those wage differences.
d. fear of reprisal from government in the form of prosecution.
b
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The situation in the figure above creates a barrier to entry for a second firm because
i. a second firm that produced as many kilowatt-hours as the first firm would see the market price fall beneath its cost and would incur an economic loss. ii. a second firm that produced fewer kilowatt-hours than the first firm would have to charge a higher price and would not gain many customers. iii. the first firm's average total cost curve indicates it has been given a patent for the product. A) i only B) ii only C) iii only D) i and ii E) i and iii
A trend is a general tendency for a variable to increase or decrease over time
Indicate whether the statement is true or false