A College Examined the Impact of an Applicant's Ethnicity on the Likelihood

question 55

Multiple Choice

A college examined the impact of an applicant's ethnicity on the likelihood of admission to a particular program.The data are summarized in the table below.
What percent of all applicants were Black or Hispanic?

• A)28%
• B)26.5%
• C)53.9%
• D)48%
• E)17.1%

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Definitions:

Monopolist

An individual or entity that is the sole provider of a particular good or service in the market, enabling them to control prices.

Substitutes

Goods or services that can be used in place of each other, where the increase in price of one leads to an increase in demand for the other.

Imperfectly Competitive

Describes markets where individual sellers have some control over the price of their goods or services, as opposed to perfect competition where none exists.

Price Makers

Firms or entities that have the ability to influence the price of goods or services in the market due to their size, uniqueness of product, or market power.