Industries Where Economies of Scale Exist Will Tend to Be

question 86

Multiple Choice

Industries where economies of scale exist will tend to be

• A) dominated by either a single firm or a few firms.
• B) resistant to cutting price.
• C) comprised of many equal-sized firms.
• D) less concerned with expanding output.
• E) highly profitable.

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Definitions:

Null Hypothesis

The default position that there is no relationship between two measured phenomena or no association among groups.

Alternative Hypothesis

In hypothesis testing, the hypothesis that contradicts the null hypothesis, usually suggesting that a new theory or intervention has an effect.

P-value

A statistical measure that indicates the probability of the observed data, or more extreme, assuming that the null hypothesis is true.

Null Hypothesis

A statement or hypothesis that assumes no statistical significance exists in a set of given observations, serving as the default assumption to be tested.