Which of the Following Is a Consequence of Competition

question 106

Multiple Choice

Which of the following is a consequence of competition?

• A)An unrelenting squeeze on prices and profit.
• B)Positive economic profit in the long run.
• C)Elimination of the most efficient firms.
• D)Price-gouging behavior.

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Definitions:

Level Of Significance

A predetermined criterion for decision making in hypothesis testing, representing the probability of making a Type I error if the null hypothesis is true.

Main Effect

In statistics, it refers to the effect of an independent variable on a dependent variable ignoring the effects of all other independent variables.

Well-Being

A comprehensive term for the state of being comfortable, healthy, or happy, often used in the context of mental, physical, and social health.

Type Of Treatment

Refers to the different categories of interventions or conditions applied to subjects in experimental research.