The Equal Pay Act Permits Pay Distinctions Based on Certain

question 22

Multiple Choice

The Equal Pay Act permits pay distinctions based on certain factors.Which of the following is NOT one of those factors?

• A) Gender
• B) Merit system
• C) Seniority system
• D) Production quality

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Definitions:

Price-Taker Markets

Markets in which individual sellers or buyers cannot affect the market price due to their small size relative to the market as a whole.

Market Price

The actual selling price of goods or services available in the marketplace at any given time.

Marginal Revenue

Marginal revenue is the additional income earned from selling one more unit of a good or service.

Marginal Cost

The change in total cost that arises when the quantity produced changes by one unit; essentially the cost of producing one additional unit of a good or service.