Multiple Choice
A perfectly competitive market is initially in long-run competitive equilibrium. Each firm in the market is earning zero economic profit. The owner of one firm decides to discriminate against employees of race X by not hiring them, or by firing those employees of race X who currently work for him. If employees of race X are high-quality employees, and other firms hire them, then the owner of the discriminating firm will soon find that his costs rise (above that of other firms) and he will begin earning
A) below normal profits.
B) normal profits.
C) positive economic profits.
D) losses.
E) a and d
Correct Answer:
Verified
Correct Answer:
Verified
Q98: A perfectly-competitive firm produces 2,000 units of
Q99: Exhibit 22-8<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 22-8
Q100: In a perfectly competitive market, the market
Q101: The perfectly competitive firm will shut down
Q102: Exhibit 22-4<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 22-4
Q104: Equilibrium price is $22 in a perfectly
Q105: The profit-maximization rule is as follows:<br>A)Produce the
Q106: Exhibit 22-4<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 22-4
Q107: A perfectly competitive market is initially in
Q108: Real-world markets that approximate the four assumptions