Which of the Following Is Not a Factor in the Growing

question 11

Multiple Choice

Which of the following is not a factor in the growing skills gap?

• A) The lack of basic skills of many high school graduates
• B) The increased sophistication of jobs
• C) The growing number of racial minorities and non-English speaking immigrants
• D) The aging of the workforce

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Definitions:

Normal Profit

The minimum profit necessary for a company to remain competitive in the market, often considered the cost of doing business.

Marginal Cost

The cost increase associated with the production of an extra unit of a product or service.

Competitive Firms

Businesses that operate in a market environment where they vie with others to offer goods or services, focusing on price, quality, and innovation.

Monopolists

Individuals or entities that hold a monopoly, controlling the entire supply of a good or service in a particular market, eliminating competition.