Even Though the Difference in Labor Force Participation Rates of Males

question 129

True/False

Even though the difference in labor force participation rates of males and females has narrowed,the participation rate of males remains higher.

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Definitions:

Total Variable Cost

The total of expenses that vary directly with the level of production, such as raw materials and direct labor.

Marginal Product

The additional output resulting from the use of one more unit of a production input, keeping other inputs constant.

AVC

Average Variable Cost, which is the total variable costs divided by the quantity of output produced.

ATC

A restated definition for Average Total Cost; it implies the cost per unit produced when both fixed and variable costs are accounted for across all levels of output.