Discrimination based on gender, ethnicity, or national origin prevents firms from hiring workers whose marginal revenue product is above the market wage

a. True
b. False
Indicate whether the statement is true or false

True

Economics

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Which of the following statements is true when wages are above the market clearing wage?

A) The larger the gap between the current market wage and the market clearing wage, greater will be the amount of unemployment. B) At wage rates above the market clearing wage rate, there is an excess demand for workers. C) At wage rates below the market clearing wage rate, there is an excess supply of workers. D) The larger the gap between the current market wage and the market clearing wage, smaller will be the amount of unemployment.

Economics

Refer to the table above. If the price of a chair increases to $20 and the rental price of machines is $200 per day, up to how many machines should the firm rent to maximize profits?

A) 2 B) 3 C) 4 D) 5

Economics