Which Ethnic Group Has the Highest Average Family Income

question 91

Multiple Choice

Which ethnic group has the highest average family income?

• A) Hispanic Americans
• B) African Americans
• C) Asian Americans
• D) South Americans
• E) Cuban Americans

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Definitions:

Variable Costs

Costs that change in proportion to the level of goods or services produced by a business.

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenues.

Variable Production Cost

Costs that fluctuate with the production volume, including variable manufacturing overhead, direct materials, and direct labor.

Fixed Production Cost

Costs that do not vary with the level of output, such as salaries, rent, and depreciation of production facilities.