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Two economists created fake resumes with either common African-American names such as Lakisha and Jamal or common white names such as Emily and Greg. After sending them to potential employers with "Help Wanted" ads in Boston and Chicago newspapers, they found that
ATC Curve
Short for "Average Total Cost Curve," it represents the average total cost per unit of output produced, showing how cost varies with changes in output levels.
Maximizing Profits
The process of adjusting production and operational processes to achieve the highest possible profit margin.
Minimizing Losses
Strategies or actions taken to reduce the amount of money or resources wasted or not gained in a business operation or investment.
Output
The amount of goods or services produced by a business, industry, or economy.
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