Why Do Most People That Are Employed Full Time NOT

question 113

Multiple Choice

Why do most people that are employed full time NOT look for part-time jobs?

• A)The economy would be operating at more than full employment
• B)The opportunity cost of leisure is too high.
• C)There are not enough jobs for full time workers to have part-time jobs.
• D)People with full-time jobs already satisfy their basic needs.

---

Definitions:

Diseconomies of Scale

The situation where long-run average costs start to increase as the scale of operation grows beyond a certain point, leading to increased per-unit costs.

Diminishing Returns

A principle in economics indicating that adding more of one factor of production, while holding others constant, will at some point yield lower incremental per-unit returns.

Constant Costs

Costs that remain the same in total, regardless of changes in the volume of goods or services produced.

Average Variable Cost

The total variable costs of production divided by the quantity of output produced; it shows the variable cost per unit.