Equal Opportunity of Employment in the Workplace

question 21

Multiple Choice

Equal opportunity of employment in the workplace:

• A)Sets targets for the representation of members of disadvantaged groups in employment.
• B)Is seen as the genuine application of the merit principle in employment.
• C)Is a program of positive and practical steps aimed at achieving equality in the workplace.
• D)All of the above.

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Definitions:

Nondiscriminating Monopolist

A monopolist who charges all consumers the same price for its product or service, unlike price discrimination strategies where different prices are set for different markets or consumers.

Economic Profit

The profit a firm makes after deducting both explicit and implicit costs, reflecting the total opportunity costs of all resources involved.

Profit-Maximizing

A method or strategy that aims to achieve the highest possible profit from business operations.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the number of units produced, indicating the cost per unit of output.