The Demand and Supply Curves Shown Below Apply to a Competitive

question 91

Multiple Choice

The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets. FIGURE 13-2
-Refer to Figure 13-2.This factor market is in equilibrium at point B.Which of the following statements best describes factor payments at point B?

• A)total income paid to the factor is $8
• B)total of economic rent plus transfer earnings is $320
• C)total factor earnings are $320 and the 40th unit earns zero rent
• D)total factor earnings are $320 and the 40th unit earns economic rent of $8
• E)economic rent to the 40th unit is $320

Comprehend the defenses available to employers in employment discrimination suits, including bona fide occupational qualifications and business necessity.

Analyze scenarios involving employment discrimination to determine potential violations of federal employment laws.

Understand the implications of the Age Discrimination in Employment Act in relation to employment practices.

Distinguish between different types of harassment in the workplace, including sexual harassment and hostile work environment.

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Definitions:

Buying Behavior

The decision-making processes and actions of consumers regarding the search for, selection, purchase, use, and disposal of goods and services.

Marketing Research Process

A systematic methodology for gathering, recording, and analyzing data about issues related to marketing products and services.

Focus Groups

A research method that gathers feedback, opinions, or perceptions from a group of people about a product, service, concept, or idea.

Reliability

The company’s ability to ensure that customers will receive a good or service within a stated lead time and that there will be no problems with the order.