Which Ethnic Group Not Only Tends to Be More Affluent

question 143

Multiple Choice

Which ethnic group not only tends to be more affluent and suburban than previously thought, but also younger, with 47 percent between the ages of 18 and 49 years?

• A) Caucasian
• B) Pacific Islander
• C) Hispanic
• D) Asian
• E) African American

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Definitions:

Collusion

An agreement, usually secretive, between firms to fix prices, limit supply, or divide markets to reduce competition and increase profits.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off, maximizing total social welfare.

Oligopolistic Firms

Companies operating in a market structure characterized by a small number of entities dominating the industry, often resulting in limited competition.

Collusively

Acting in a coordinated manner, often secretly, between firms to set prices or market conditions, usually to the detriment of competition.