Which of the Following Statements Is Correct Regarding Entrepreneurial Activity

question 19

Multiple Choice

Which of the following statements is correct regarding entrepreneurial activity and age ranges?

• A) The highest percentage of entrepreneurs falls in the 20 to 34 age range.
• B) The highest percentage of entrepreneurs falls in the 45 to 54 age range.
• C) The highest percentage of entrepreneurs falls in the 35 to 44 age range.
• D) The highest percentage of entrepreneurs falls in the 55 to 64 age range.
• E) The highest percentage of entrepreneurs falls in the 60⁺ age range.

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Definitions:

Consumer Surplus

is the difference between the maximum price a consumer is willing to pay for a good or service and the actual price they pay.

Scented Candles

Candles infused with fragrance or essential oils that are used for aromatherapy or to create a pleasant atmosphere.

Marginal Utility

The added satisfaction or utility a consumer gains from consuming an additional unit of a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.