Exhibit 8A-1 -Refer to Exhibit 8A-1. a Cost-Minimizing Firm Would Prefer Producing

question 169

Multiple Choice

Exhibit 8A-1
-Refer to Exhibit 8A-1. A cost-minimizing firm would prefer producing at point C to producing at

• A)point D because point C represents a lower cost.
• B)point A because point C represents the same output at a lower cost.
• C)point B because point C represents the same output at a higher cost.
• D)point B because point C represents higher output at the same cost.
• E)point B because point C represents higher output with a lower cost.

---

Definitions:

Reliability

The degree to which an assessment tool produces stable and consistent results over time.

Validity

The extent to which a test, tool, or study accurately measures or reflects what it claims to measure.

Subscale

In psychological testing, a set of items grouped together that measure a specific dimension or construct.

Reliability

Refers to the consistency and dependability of measurement results over time.