Refer to Scenario 17-1. Following the passage of comparable worth legislation, Unity College responds by placing salaries for all assistant professors at $80,000. Which of the following is the result of the legislation?
A) The demand for English professors decreases; the market for business professors is not affected.
B) There will be a surplus in the market for English professors and the market for business professors will not be affected.
C) The supply of English professors increases; the market for business professors is not affected.
D) There will be a surplus in the market for English professors and a shortage in the market for business professors.
B
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Given the aggregate production function Y = A , the Solow residual equals ________ when Y is 60, K = 5 and L = 5
A) 2.4 B) 35 C) 25 D) 12
The idea behind price discrimination is
a. To be able to sell to high-value customers, who value the product most b. To be able to sell to the marginal customers, who are indifferent about the purchase c. To be able to sell to the low-value customers, who would otherwise not buy the product d. To be able to sell to both high and low value customers at different prices