Preferable than the distribution of household income

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Reference no: EM13741158

1. The distribution of family income is preferable than the distribution of household income because

Select one:

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 quantiles.

2. Which of the following statements is false?

Select one:

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.

Reference no: EM13741158

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