The Percentage of Workers Who Belong to Unions in the United

question 15

Multiple Choice

The percentage of workers who belong to unions in the United States is approximately:

• A)18 percent.
• B)28 percent.
• C)33 percent.
• D)50 percent.

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Definitions:

Variable Cost

Outlays that move in tandem with the level of production or the scale of sales.

Fixed Costs

Expenses that do not change in proportion to the activities of a business, such as rent and salaries, within a certain period or level of production.

Cost Equation

A formula used to predict the total costs of production, based on fixed and variable costs, as a function of activity levels.

Contribution Margin

The selling price per unit minus the variable cost per unit, which helps determine how much sales contribute to covering fixed costs and generating profit.