Use the Following to Answer Questions

question 135

Multiple Choice

Use the following to answer questions:
-(Table: Lunch) Look at the figure Lunch. Joe makes and sells picnic lunches to people taking all-day rafting trips on the river. The marginal cost and average cost of each lunch are a constant $4. If Joe is one of many firms in a competitive industry, what is deadweight loss in the long run?

• A) $0
• B) $4
• C) $180
• D) $360

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Definitions:

Age Discrimination in Employment Act

U.S. federal law aimed at protecting employees and job applicants aged 40 and older from discrimination based on age in hiring, promotion, discharge, compensation, or terms, conditions, or privileges of employment.

Prima Facie Case

Evidence that, unless rebutted, is sufficient to prove a particular proposition or fact in a court of law.

Termination

In a contract, the point at which an offer can no longer be accepted as part of a binding agreement or an offeree no longer has the power to form a legally binding contract by accepting the offer; can occur through revocation by the offeror, rejection by the offeree, death or incapacity of the offeror, destruction or subsequent illegality of the subject matter of the offer, or lapse of time or failure of another condition stated in the offer.

Inference of Discrimination

Inference of discrimination refers to a conclusion drawn from indirect evidence suggesting discriminatory practices based on race, gender, age, or other protected characteristics.