Jose Works as an Exotic Dancer at the "Gentlemen's Nightclub

question 27

Multiple Choice

Jose works as an exotic dancer at the "Gentlemen's Nightclub." Though he gets tips from the patrons,Jose is paid a weekly salary.Later,Jose discovers that though he works the same number of hours as the females,their salary is double his.If Jose sues the Gentlemen's Nightclub,who will win?

• A)Jose may win because of the Equal Pay Act.
• B)Jose may win because of Title VII.
• C)Gentlemen's Nightclub may win if they consider breast-size (or lack thereof)as a factor of the value of the employee.
• D)Gentlemen's Nightclub may win because employers can discriminate against men in an exotic dancing venue.

Recognize the concept of natural monopoly and the conditions under which it occurs.

Analyze the relationship between price elasticity of demand and monopolistic pricing strategies.

Calculate the optimal price and output for a monopolist under various cost and demand conditions.

Understand the implications of monopolies on economic efficiency and consumer surplus.

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Definitions:

Coupon Bond

A bond that pays the holder a fixed interest payment (coupon) at regular intervals until maturity, when the principal amount is reimbursed.

Accrued Interest

Interest that has been earned but not yet received or paid out, often relevant in bond investments and loans.

Interest Days

Refers to the days over which interest is calculated on a loan or financial instrument.

Conversion Ratio

In finance, it is the number of shares a holder can obtain by converting a convertible security into common stock.