Refer to the Information Provided

question 174

Multiple Choice

Refer to the information provided.If consumers do not discriminate between bald barbers and barbers with hair, then:

• A)wages in the market for barbers can never be in equilibrium
• B)competitive pressure in the market for haircuts will eventually cause the equilibrium wage in both markets to be identical
• C)the equilibrium wage in the 'bald' market will eventually fall
• D)the equilibrium wage in the 'non-bald' market will eventually rise

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Definitions:

Discourage

The act of persuading someone to not take a certain action or to diminish their motivation or enthusiasm towards an activity or goal.

Unusual Ideas

Concepts, thoughts, or innovations that stand out due to their uncommon nature, novelty, or creativity.

Decisions

The act of making choices or coming to conclusions after considering different alternatives and possibilities.

Objective Facts

Information that is true, measurable, and observable, unaffected by personal feelings or interpretations.