Discuss the living style of an average American of 2001

Most Americans in 2001 enjoyed a very high standard of living when compared to the rest of the world, because the United States has been one of the wealthiest countries of the globe since the end of World War II.

America in 2001 had a large Middle Class, income inequality was lower (although average income was not higher), and this middle class could enjoyed many amenities, like household appliances, cable television, and vacations every few years.

Important differences with American lifestyle today is that air travel had a much less tight security, and that internet was rudimentary, slow, and had not been accessed by the majority of Americans.

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marginal cost is a microeconomic measure that us to evaluate the extent to which the level of production of a good is sustainable in accounting, that is, to how many quantities the company plans to profit from the production of the good.

the concept of marginal cost is simple, it means the cost of producing one more item. for example, in the case of pies, the marginal cost is the cost of producing one more pie than those that have already been produced.

it is important to understand that productive activity influences marginal cost. the marginal cost of some goods can be very high, while others may be insignificant. for example, the marginal cost of producing an extra plane is very high. already the marginal cost of a water company to provide 1l more water is derisory.

in the case of pies, the cost involves the inputs, the labor and the fixed cost, which involves the fixed space of the bakery. the level of production initially has the marginal cost decreasing because there is space and manpower available. however, to produce more you have to hire more workers and buy more inputs. if physical space is limited, workers will conflict with places, inputs and their productivity will decrease, meaning there is an optimum point of production for each level of space and manpower. from this point on, the productivity of the workers will be getting smaller because of lack of space, so that the marginal cost of producing one more pie will be increasing. so, although you have not posted the chart, but if you have the answer, you can see that my explanation goes according to the marginal cost curve that will increase from the 4th pie, answer (c).