Which of the Following Holds True for Working Class Consumers

question 88

Multiple Choice

Which of the following holds true for working class consumers?

• A)Their family income is usually between $20,000 and $30,000.
• B)They rely on assistance to cover their basic needs.
• C)They are primarily into business rather than white-collar jobs.
• D)They have high discretionary incomes.
• E)Their spending patterns are not influenced by economic conditions.

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Definitions:

Variable Cost

Costs that vary directly with the level of production or service delivery.

Total Cost

The sum of all costs incurred by a business to produce a specific amount of goods or services, including fixed and variable costs.

Average Variable Cost

The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.

Marginal Cost

The financial outlay for producing an incremental unit of a product or service.