1) Explain how market forces might give a business an incentive to act in a less discriminatory fashion. An assembly line has traditionally only hired men, but it is having a hard time hiring sufficiently qualified workers
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Q: monopsony
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1) Explain how market forces might give a business an incentive to act in a less discriminatory fashion.
An assembly line has traditionally only hired men, but it is having a hard time hiring sufficiently qualified workers
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- 1. Economic theory suggests that the consumer prejudice explanation for discrimination means that consumers will have to pay more to be served by employees of a specific group. Group of answer choices True False 2. Celebrity endorsements are often used by monopolistically competitive firms to boost the reputation of the product that is being endorsed. Group of answer choices True False 3. If a monopolist is producing at that output where price equals average variable cost in the short run, then it is earning a negative profit. Group of answer choices True FalseExplain using suitable examples Michael Porter's National Competitive Advantage TheoryQuestion 2 In microeconomic theory, the standard intuition tells us that employees will reduce their labor supply or pursue another job elsewhere when employers cut wages. Does the latter intuition omit geographic isolation, worker preferences, or moving costs. Consequently, employers would be considered to have greater market power over their workers. This would be an example of A. monopoly B. monopsony C. perfect competition D. monopolistic competition Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line
- 1.In the goods market, we have prices; in the labor market, we have wages or salaries; in the financial market, we have: A)credit B)interest rates C)usury D)principal 2.A certain mining company employs all the workers in a small mountainous community. If all the people of this community do not work for other companies, one can say that the situation with the mining company is a form of: A)Monopsony B)Oligopoly C)Monopoly D)Oligopsony 3.Through collective bargaining, labor unions can negotiate higher wages for union members. However, this might cause _______________ when these union wages are higher than the market equilibrium. A)affirmative action B)a labor strike C)excess demand for labor D)excess supply of labor 4.According to studies, the gap between the earnings of male and female workers can be explained by: A)all the options are correct B)the percentage of men vs. women in top positions in companies C)the expectations that women are likely to bear a…n the neoliberal school of thought, labor unions are Group of answer choices create unproductive conflict. important tools for eliminating capitalism. monopolies that try to restrict the supply of labor and benefit only a few at the expense of others. necessary to facilitate movement of supply and demand to the optimal market wage.The desire to maximize profits can work against racial and other types of discrimination. To see why, consider two equally productive accountants named Ted and Jared. Ted is black, and Jared is white. Both can complete 10 audits per month. Instructions: Enter your answers as a whole number. In part b, round your answer for profit rate to 1 decimal place. b. If the market price that accounting firms charge their clients for an audit is $2,000, what would the accounting profit per audit be for a firm that hired either Ted or Jared? $ What is the profit rate as a percentage? c. Suppose that firm A dislikes hiring black accountants, while firm B is happy to hire them. So Ted ends up working at firm B rather than firm A. If Ted works 11 months per year, how many audits will he complete for firm B each year? audits How much in accounting profits will firm B earn each year from those audits? d. Because firm A passed on hiring Ted because he was black, firm A is forgoing the profits it could…
- How does a bilateral monopoly affect the equilibrium wage and employment levels compared to a perfectly competitive labor market?16-4 A City and Its Unions Robert G. Flanders Jr., the state-appointed receiver for Central Falls, RI, said his city’s declaration of bankruptcy had proved invaluable in helping it cut costs. Before the city declared bankruptcy, he said, he had found it impossible to wring meaningful concessions out of the city’s unions and retirees who were being asked to give up roughly half of the pensions they had earned as the city ran out of cash. Why does bankruptcy give the city bargaining power against its unions?Subject: Menagerial economics & policy Mcq's 15) In a perfectly competitive market a) AR>MR b) AR=MR c) AR d) None of the above 16) In a perfectly competitive market a) P=MR b) P>MR c) P d) None of the above 17) If AFC is 40 and AVC is 80 then ATC is a) 40 b) 120 c) 100 d) None of the above 18) Perfect Competitive markets are a) price takers b) price makers c) public franchise d) None of the above
- The government’s primary goal in awarding patents is to: A. Make sure that patent holders earn substantial profit. B. Create more monopoly firms. C. Create a perfectly competitive market. D. Encourage more innovation.b. If the monopoly operates in a perfectly competitive labor market where the going market wage is $20, what is the firm's profit maximizing level of employment? The firm's profit maximizing level of employment is 4 labor workers.True or false. When a labor market consists of a single monopsony buyer of labor interacting with a single monopoly seller of labor (such as a trade union), the resulting quantity of labor that is hired will always be inefficiently low.
