Which of the following groups has the lowest median income in the United States?
A. Married couples with both spouses working
B. Female-headed families with no husband present
C. Male-headed families with no wife present
D. Married couple families with the wife not working
B. Female-headed families with no husband present
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The three noteworthy features of corporations’ legal status include all of these except
A. how they are taxed. B. special limits are placed on the losses that may be incurred by those who invest in corporations. C. the corporation is a distinct entity separate from its owners. D. they may invest in the stock market and acquire financing.
If the seller of a good gets less than his/her opportunity cost and the buyer pays more than his/her valuation of the good, economic value is created
Indicate whether the statement is true or false
The market demand curve
a. is found by vertically adding the individual demand curves. b. slopes upward. c. represents the sum of the prices that all the buyers are willing to pay for a given quantity of the good. d. represents the sum of the quantities demanded by all the buyers at each price of the good.
The quantity where MC=MR is also the quantity where
A. TC is minimized. B. TR is maximized. C. TC=TR. D. TC and TR have the same slope.