Table 20-9 Poverty Thresholds in 2002, by Size of Family and Number

question 206

Multiple Choice

Table 20-9
Poverty Thresholds in 2002, by Size of Family and Number of Related Children Under 18 Years
[Dollars]

Source: U. S. Bureau of the Census, Current Population Survey.
-Refer to Table 20-9.What is the poverty line for a family of six with three children?

• A) $21,469
• B) $24,797
• C) $25,738
• D) $28,718

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Definitions:

Industry Supply

The total output of a specific good or service that all producers in an industry are willing to sell at different price levels.

Industry Demand

The total demand for the products or services produced by a specific industry, reflecting the collective demand of all consumers in the market.

Losses

Financial deficits that occur when the costs of operating a business exceed the revenue generated from selling goods or services.

P = MC

This equation represents the condition where the price (P) of a product equals the marginal cost (MC) of producing one additional unit, typically illustrating a firm's optimal production point in perfectly competitive markets.