Social Classes Differ from One Another Principally Because of

question 44

Multiple Choice

Social classes differ from one another principally because of

• A)different religious beliefs.
• B)different educational experiences.
• C)different national origins.
• D)different amounts of wealth and power.
• E)different patterns of labor force participation.

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Definitions:

Fixed Costs

Costs that do not vary with the level of output or production, such as rent or salaries.

ATC

Average total cost is found by dividing the overall production cost by the number of units produced.

Marginal Revenue

The additional income generated from the sale of one more unit of a product or service.

AVC

Stands for Average Variable Cost, which is the total variable costs (costs that vary with production levels) divided by the quantity of output produced.