Discrimination Can Occur Without the Awareness of Both Those Doing

question 80

True/False

Discrimination can occur without the awareness of both those doing the discriminating and those being discriminated against.

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Definitions:

Monopoly Equilibrium

The state in which a monopolistic company determines its price and output level where its marginal cost equals its marginal revenue.

Competitive Equilibrium

A state in a market where supply equals demand, resulting in an equilibrium price and quantity that clears the market.

Profit-Maximizing

The process or strategy of adjusting production and sales to achieve the highest possible profit levels.

Monopoly Firm

A single business or corporation that controls a significant portion or all of the market for a particular type of product or service.