An Argument That Has Been Advanced to Explain High Teenage

question 238

Multiple Choice

An argument that has been advanced to explain high teenage unemployment is

• A)lack of job experience.
• B)limited education.
• C)a minimum-wage requirement higher than their marginal revenue products.
• D)all of the above.

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Definitions:

Marginal Cost

The additional cost incurred in producing one more unit of a good or service, crucial for making production and pricing decisions.

Fixed Cost

Fixed cost is a business expense that remains constant regardless of changes in the level of production or sales volumes, such as rent or salaries.

Lawn-mowing

The act of cutting the grass of a lawn to maintain a specified height and neat appearance.

Variable Costs

Expenses that change in proportion to the activity or volume of goods or services produced.