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Fatimah is a consultant who is providing advice for company that has recently expanded the number of females in its workforce. The company's HR department wants to make sure it understands the typical challenges faced by women in business so it can ensure it has measures in place to support female employees.
-Fatimah explains that women often face the problem of an unacknowledged barrier that prevents them from advancing to higher levels in their profession. This is referred to as______________ .
Cartel
An association of independent companies or entities that agree to limit competition between themselves, often to control prices and production in a particular market.
Allocative Efficiency
A state of the economy in which the distribution of resources among different uses is optimal, reflecting consumer preferences and maximizing total societal welfare.
Productive Efficiency
A situation in which a goods or services are produced at the lowest possible cost, utilizing all available resources efficiently.
Monopoly Power
The ability of a single supplier to control the market price and supply of a product or service.
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