How Do Single Fathers' Incomes Compare to Those of Single

question 94

Multiple Choice

How do single fathers' incomes compare to those of single mothers?

• A) They are about the same.
• B) Single fathers make more money in urban, but not in rural, areas.
• C) Single mothers with only one child make more money, but not mothers with more children.
• D) Single fathers make considerably more money.
• E) Single mothers make considerably more money.

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Definitions:

Marginal Revenue

The increased earnings from the sale of one more unit of a product or service.

Purely Competitive

A market structure characterized by a large number of small firms producing identical products with free entry into and exit out of the market.

Entry And Exit

The ease with which new competitors can enter into an industry and existing ones can leave, influencing the competitive dynamics and profitability of a market.

Economic Profits

Economic profits refer to the excess returns a firm makes above its opportunity costs, factoring in both explicit and implicit costs.