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In Bakke v. Regents of the University of California, the University of California at Davis Medical School denied admission to white student, Allen Bakke, allegedly because of the school's affirmative action quota system, which required that a specific number of openings go to minority applicants. Bakke charged that had occurred.
Demand Function
A mathematical relationship expressing the quantity of an item demanded at various prices.
Marginal Costs
The amount spent to produce a further unit of a good or service.
Deadweight Loss
A loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.
Coefficient Of Monopsony
A measure indicating the degree of market power held by a single buyer in a market.
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