Compared with a firm in a perfectly competitive market, the demand curve faced by a monopolistically competitive firm is

Economic systems differ according to which two main characteristics?

A. Who owns the factors of production and the methods used to coordinate economic activity. B. The technology used in production and the quantity and quality of natural resources. C. How goods are produced and who gets them. D. The political system in place and the degree of scarcity facing the economy.

When employment discrimination results from the personal prejudices of employers, economic theory suggests that

a. discrimination by an employer will reduce production costs since the employer can pay lower wages. b. the wages of employees who are discriminated against will rise. c. an employer who discriminates will have the same costs as those who do not discriminate. d. competitive forces will tend to reduce discrimination.