Lana, a Single Woman with No Dependents, Is Unable to Afford

question 12

Multiple Choice

Lana, a single woman with no dependents, is unable to afford basic necessities, such as housing and healthcare. What type of poverty is she experiencing?

• A) relative poverty
• B) absolute poverty
• C) feminization of poverty
• D) institutional poverty

Understand the concept of barriers to entry and their effect on market competition.

Recognize the dynamics of a monopoly, including how monopolies establish and maintain their market power.

Differentiate between the pricing and output strategies of monopolies versus perfect competition.

Analyze marginal cost and marginal revenue to determine optimal output levels.

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Definitions:

Discouraged Workers

Individuals who are not actively seeking employment due to believing no jobs are available for them or none that match their skills.

Unemployment Rate

The unemployment rate is the percentage of the total labor force that is unemployed but actively seeking employment and willing to work.

Labor Force

The total number of people available to work, including both the employed and the unemployed who are seeking employment.

Unemployment Rate

The portion of the labor sector that remains unemployed and is actively job hunting.