Billy Does Not Have Home Computer or Internet Access Away

question 30

Multiple Choice

Billy does not have home computer or Internet access away from school because his family cannot afford it.His classmates come from more affluent backgrounds and have these things.This inequality illustrates

• A)a social hierarchy.
• B)class warfare.
• C)the digital divide.
• D)alienation.

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Definitions:

AVC

Average variable cost, which is the total variable cost divided by the quantity of output produced.

Marginal Product Data

Information that shows how the addition of a single unit of a factor of production, such as labor or capital, affects total output.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product for which each supplier's offerings are perfectly substitutable by the consumers.

Profit-Maximizing Rule

A principle stating that firms achieve maximum profit when they produce goods or services to the point where marginal cost equals marginal revenue.