Demographic Situation,consisting of Married Couples with Children Younger Than 18

question 95

Multiple Choice

demographic situation,consisting of married couples with children younger than 18 years old and which constitutes 21 percent of all U.S.households,is referred to as a(n)

• A) traditional family.
• B) typical household.
• C) socialized household.
• D) reference group.
• E) ideal family unit.

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Definitions:

Marginal Revenue

The additional income earned by a company from selling one more unit of a good or service, reflecting the benefit of increased production.

Marginal Cost

The boost in expense for crafting one more unit of a product or service.

Profits

The financial gain realized when the revenue earned from economic activities exceeds the expenses, costs, and taxes associated with sustaining the activity.

Firms

Business entities engaged in commercial, industrial, or professional activities, either for profit or as a nonprofit.