Blacks and the Members of Other Minority Groups in the United

question 69

Multiple Choice

Blacks and the members of other minority groups in the United States have lower income than do whites because minority groups __________.

• A)are forced to pay higher rents
• B)have less education than whites
• C)are discriminated against in housing,education,and health care
• D)All of the above

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Definitions:

Marginal Cost

The added cost incurred by producing one additional unit of a product or service.

Profit-Maximizing

The process or strategy of increasing the profit of an entity to its highest possible level under prevailing circumstances.

Nondiscriminating Monopolist

A monopolist who charges all consumers the same price for its product regardless of the consumer's willingness or ability to pay more.

Price Discriminate

The strategy of selling the same product to different customers at different prices based on what the seller believes each customer is willing to pay.