In 2018, a Person Was Considered to Live in Poverty

question 8

Multiple Choice

In 2018, a person was considered to live in poverty if his or her annual income was _____ or less.

• A) $15,500
• B) $18,500
• C) $12,140
• D) $13,570
• E) $14,350

---

Definitions:

Product Differentiation

A strategy to make a product or service stand out from the rest, intended to captivate a certain target demographic.

Economic Profits

The excess amount after subtracting total expenses from total revenues, considering both explicit and implicit costs.

Demand Curves

A graph representing the relationship between the quantity of a good consumers are willing and able to purchase and its price.