Use the Figure Below to Answer the Following Questions

question 29

Multiple Choice

Use the figure below to answer the following questions. Figure 11.4.3
-Refer to Figure 11.4.3,which shows the cost curves and marginal revenue curve of a firm in a perfectly competitive market.In the long run,

• A)firms that remain in the market will expand production.
• B)market demand will increase.
• C)firms will adopt labour-saving technology.
• D)industry output will remain constant.
• E)firms will enter the market.

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Definitions:

Independent Variables

Variables in an experiment that are manipulated or chosen by the researcher to investigate their effects on the dependent variable.

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of a linear relationship between two quantitative variables.

COV

A statistical measure expressed as a coefficient indicating the relative dispersion of a dataset or the ratio of the standard deviation to the mean.

Coefficient Of Correlation

A statistical measure that quantifies the degree to which two variables' movements are associated, ranging from -1 to 1.