Reference no: EM13839438
1. The distribution of family income is preferable than the distribution of household income because
a. household income is less accurate.
b. more households than families.
c. a household can be a single person living alone.
d. a family must be composed of at least two people.
e. family size varies less among the quintiles.
2. Which of the following statements is false?
a. The long-run average-total-cost curve does not connect the minimum points of each of the short-run average-total-cost curves.
b. The long-run average-total-cost curve shows the minimum cost of producing each level of output when all resources are variable.
c. The short-run average-total-cost curve shows the minimum costs of producing each level of output when at least one input is fixed.
d. If short-run average-total-costs are declining, then economies of scale exist.
e. None of the above.
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Economy is capable of producing
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Income is preferable than distribution of household income
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