Ann Keeps Hearing the Term "Comparable Worth

question 113

Multiple Choice

Ann keeps hearing the term "comparable worth." She is confused about it, so you explain that it means

• A) that an employer cannot discriminate against workers who are older than 40 years of age.
• B) that handicapped employees should be paid the same as their non-handicapped peers when they perform comparable work.
• C) men and women should receive equal wages.
• D) wages should be the same for men and women who hold jobs which are of comparable value to the firm.
• E) men and women should be paid the same wages when their work requires equal skill, effort, and responsibility and is performed under the same conditions.

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Definitions:

Price Elasticity

A measure of how much the demand or supply of a product changes in response to a price change.

Cournot Equilibrium

A model of market competition in which firms choose their output levels simultaneously and independently to maximize profit with the assumption of no further entry by other firms.

Marginal Cost

Marginal cost denotes the change in the total expense incurred by a firm when its output is increased by a single unit.

Major League Baseball

A professional baseball organization consisting of teams in the United States and Canada, representing the sport's highest level of play.