If Customer Discrimination Does Not Exist, Firms That Discriminate on the Basis

question 205

Multiple Choice

If customer discrimination does not exist, firms that discriminate on the basis of race or sex will

• A) have higher costs than those that do not.
• B) have the same level of costs as those that do not.
• C) have lower costs than those that do not.
• D) tend to survive whereas firms that do not discriminate will tend to fail.

Distinguish between the characteristics of birds and mammals.

Identify unique features associated with the mammalian class.

Understand the evolutionary significance of nonvertebrate chordates, tunicates, and lancelets.

Describe key events and features in the evolutionary pathway of chordates.

---

Definitions:

Perfectly Competitive

Describes a market structure where many firms sell identical products, there are no barriers to entry or exit, and all firms are price takers.

Excess Capacity

A situation where a firm is producing at a lower scale of output than it has been designed for, leading to inefficiencies.

Average Total Costs

The total costs of production divided by the number of units produced, representing the cost per unit.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies as output varies.