Free-Standing Areas with a Core Urban Population of at Least

question 25

Multiple Choice

Free-standing areas with a core urban population of at least 50,000 are what the U.S. Census Bureau calls

• A)major cities.
• B)urban numerical areas.
• C)metropolitan statistical areas.
• D)metropolitan districts.
• E)urban statistical areas.

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Definitions:

Fixed Cost

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance expenses.

Variable

An element, feature, or factor that is liable to vary or change; used in statistical analysis and experiments.

Output

The total amount of goods and services produced by an economy or a production process.

AFC

Average Fixed Cost (AFC) is the fixed costs of production (such as rent, salaries, machinery) divided by the quantity of output produced.