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.
Additionally, small-business owners in industries such as services, wholesale trade, public administration and manufacturing boast above-average incomes. Age The national consumer average head of household age is 51.7 years old, while small-business owners are slightly younger with an average age of 50.3 years old.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.