If the Prices of Inputs Do Not Increase as an Industry

question 118

Multiple Choice

If the prices of inputs do not increase as an industry grows,the industry is a(n)

• A) decreasing-cost industry.
• B) constant-cost industry.
• C) increasing-cost industry.
• D) nonexistent industry.

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Definitions:

Rank Sums

A non-parametric statistical measure used to compare the distributions of two independent samples by ranking all observations together and then summing ranks for observations belonging to each sample.

Standardized Test Statistic

A calculated value used to determine the relative distance of a data point or sample from the mean of a population, expressed in terms of the standard deviation of the population.

Positive Differences

The result obtained when subtracting a smaller number from a larger number in each pair of a data set.

Negative Differences

Refers to the results obtained when subtracting a number from another number that is smaller, resulting in a negative value.