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 fourth constructs, for men and. women, average retirement ages â the age when 50. percent of the population is out of the labor force. Todayâs average retirement ages of 64 for men and 62. for women are just about where they were a decade. ago, suggesting that some of the factors spurring.