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Some argue that the government doesn't need affirmative action programs or other anti-discrimination policies because the profit motive provides sufficient motivation to eliminate discrimination in employment. (Respond to each statement with 2-3 sentences)
a. Explain this argument.
b. Explain why this might NOT happen i.e. why discrimination might continue even where employers are motivated by profits.
c. Affirmative action admissions policies help minorities who would otherwise be unable to get into a selective university to attend the university. What effect might such a policy have on the black/white wage gap? Explain.
d. Under statistical discrimination how would you expect affirmative action admissions policies to change the wages of minority college graduates?
e. Is there a theory of discrimination in which affirmative action admissions policies increase the wages of minority college graduates? Explain.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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