Which of the Following Is a Common Reason Why Boomerang

question 62

Multiple Choice

Which of the following is a common reason why boomerang children return home to live with middle-aged parents?

• A)children experiencing health problems
• B)traditional values of native born Canadians require children to remain in the home until marriage
• C)lack of employment or underemployment
• D)middle-age parents miss their children and are experiencing empty nest syndrome

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Definitions:

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating profitability beyond normal returns.

Long-run

A period of time in which all factors of production and costs are variable, allowing companies to adjust to market changes completely.

Perfectly Competitive

Describes a market structure where many firms offer identical products, there are no barriers to entry or exit, and all firms are price takers, meaning they accept the market price as given.

Perfectly Competitive

A market structure characterized by an infinite number of small firms, homogeneous products, and easy entry and exit, leading to price-taking behavior.