In the United States, Because the Amount of Part-Time Work

question 80

Multiple Choice

In the United States, because the amount of part-time work has increased and the average number of hours worked per week has increased,

• A)average annual earnings have increased less rapidly than average weekly or hourly earnings.
• B)average annual earnings have increased more rapidly than average weekly or hourly earnings.
• C)average weekly earnings have increased at the same rate as average hourly earnings.
• D)average weekly earnings have increased more rapidly than average hourly earnings.
• E)average weekly earnings have increased less rapidly than average hourly earnings.

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Definitions:

Average Variable Cost

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

Average Total Cost

The per unit cost of production, calculated by dividing the total costs by the quantity of output produced.

Profit-maximizing

A strategy or point at which a business makes the greatest financial gain, where marginal revenue equals marginal cost.

Total Revenue

The overall income generated by a business from its sales or services before any costs or expenses are subtracted.