Most of the Labor Force in Developing Countries Work in the Low

question 2

True/False

Most of the labor force in developing countries work in the low wage manufacturing sector.

---

Definitions:

Total Variable Costs

The total of all costs that vary with the level of production, including materials, labor, and other expenses that change with output.

Units of Output

The quantity of product that a company produces in a given period.

Marginal Costs

The increase in total production cost that arises from producing one additional unit of a good or service.

Average Fixed Cost Curve

A graph that shows the fixed costs of production divided by the quantity of output produced, illustrating how these costs dilute over larger production volumes.