One Option for an Organization Accused of Illegal Discrimination Is

question 26

True/False

One option for an organization accused of illegal discrimination is to conduct a validation study to support the organization's contention that the selection instruments are job related.

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Definitions:

Normal Profit

Normal profit is the minimum level of profit needed for a company to remain competitive in the market, equivalent to the opportunity cost of capital.

Purely Competitive Market

A market framework where numerous buyers and sellers exist, there's unrestricted access and departure, and the product is uniform, which results in participants accepting the market price as given.

Economic Profit

Profit calculated by subtracting both explicit and implicit costs from total revenues, providing a measure of the true economic performance of a venture.