From a resource standpoint, the important point of this comparison is that including the marginal external costs of production and allocating resources based on the full social cost results in a higher price for the good (Ps > Pp) and less output (Os < Op) than only including the private costs.
Today, the nation's farmers are 17 years older than the average American worker, with the ranks of farmers who are 75 years and up outnumbering those in their prime working years of 35 to 44. One big reason U.S. farmers are going gray: spiraling costs.
The finance, insurance and real-estate industry boasts the most affluent small-business owners, with an average income 36 percent higher than other industries and nearly $10,000 more than the average income of a small-business owner.his contrasts with the popular view of a small-business owner as a younger or single entrepreneur. The national average head of household age of a small-business owner is 50.3 years old. 0%5%10%15%20% Small-business ownerNational consumer average1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10thHighest Wealth deciles Lowest.