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There are seven production managers at Wallace Inc., four men and three women. All four men have higher salaries than the three women. Since the men have all been in the position longer than the women, Wallace Inc., has a legal justification for paying the men more.
Racial Minorities
Ethnic groups that are represented in smaller numbers within a particular nation or society compared to the dominant group.
Environmental Racism
The practice of disproportionately situating environmental hazards and harmful industries near minority or low-income communities.
Imperfect Price Signals
Situations in which prices do not fully reflect all the relevant information, leading to inefficiencies or misallocations in the market.
Actual Cost
The total expenditure incurred in the production of goods or services, including all direct and indirect costs.
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