For an increasing cost industry, the long-run supply curve has a(n) _____ elasticity of supply

The crowding model of discrimination suggests that:

A. women and selected minorities are systematically excluded from high-paying occupations and crowded into low-paying occupations, decreasing their wages and reducing domestic output. B. employers having high discrimination coefficients will be crowded out by nondiscriminating employers in the long run. C. firms will base hiring decisions on group averages, rather than on individual characteristics and productivity. D. occupational segregation is largely the result of freely made rational choices of women and minorities.

Briefly and concisely define the following terms and explain their importance in the study of economics. a. excess capacity theorem b. price leadership c. kinked demand curve d. perfectly contestable market

What will be an ideal response?