Figure 14-16 -Refer to Figure 14-16.If There Are No Fixed Costs of Fixed

question 499

Multiple Choice

Figure 14-16
-Refer to Figure 14-16.If there are no fixed costs of production,monopoly profit without price discrimination equals

• A) $0.
• B) $1,562.50.
• C) $3,125.
• D) $6,250.

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Definitions:

Employment Discrimination

Unequal treatment of people on the basis of their race, gender, or religion, restricting their employment and earnings opportunities compared with others of similar productivity. Employment discrimination may stem from the prejudices of employers, customers, fellow employees, or all three.

Economic Theory

A set of definitions, postulates, and principles assembled in a manner that makes clear the “cause-and-effect” relationships.

Production Costs

The total expenses incurred in the manufacture of a product, including labor, materials, and overheads.