A Hypothesis Is

question 196

Multiple Choice

A hypothesis is

• A) a random guess as to what might happen in an experiment.
• B) a tentative statement about the relationship between two or more variables.
• C) a conclusion drawn from an experiment.
• D) a system of interrelated ideas used to explain a set of observations.

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Definitions:

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.

Cartel

An association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.

Marginal Cost

The increase in total cost that arises from producing an extra unit of output.

Fixed Cost

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.