If Labor Markets Are Competitive, Discriminating Employers

question 1

Multiple Choice

If labor markets are competitive, discriminating employers

• A)will have to pay higher wages since the available labor supply is smaller.
• B)will have higher costs and therefore be at a competitive disadvantage.
• C)will be driven out of business by nondiscriminators.
• D)All of the above are true.

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Definitions:

Business Analysis

The practice of identifying business needs and determining solutions to business problems, often involving the evaluation of business structure, processes, and operations.

Product Development

The process of creating, designing, and bringing a new product to the market.

Prototype

A mock-up of a good, often created individually with the materials the firm expects to use in the final product.

Mock-Up

A full-size model of a design or device, used for product presentations or to evaluate a concept.