Comparable worth legislation
A) guide markets toward the economically efficient wage.
B) mandate that employers pay the same wages to workers, regardless of their gender, for jobs that have comparable worth.
C) will eliminate the earnings gap between men and women.
D) mandate that potential employers demonstrate that they are worth the wages they expect to earn.
B
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If there is excess demand in a perfectly competitive market, does the government need to intervene to restore the equilibrium price and quantity?
What will be an ideal response?
Suppose a survey is taken concerning car safety. According to the survey, people strongly desire safer cars and indicate they are willing to pay substantially more for safer cars
Using this information, one auto firm adds numerous safety features to its car, raising the price by several thousand dollars. Sales drop sharply, and the firm loses profits. What went wrong?