Arranged Marriages

question 53

Multiple Choice

Arranged marriages:

• A)are virtually unknown in the world today.
• B)are less and less common in developed nations,although some still take place.
• C)are practiced only in rural Africa today.
• D)are practiced only in rural China today.
• E)are increasing in popularity,especially in the industrialized areas of China.

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Definitions:

Deadweight Loss

The loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or achievable.

Profit-Maximizing

Profit-maximizing refers to a strategy or behavior where a firm or individual seeks to achieve the highest possible profit through their decisions and actions, often by adjusting output or pricing.

Externality

The uncompensated impact of one person’s actions on the well-being of a bystander

Total Cost

The sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.