Descriptive Questions, Predictive Questions, and Causal Questions Are All Used

question 2

True/False

Descriptive questions, predictive questions, and causal questions are all used in quantitative research.

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Definitions:

Fixed Cost

Costs that do not change with the level of output produced, such as rent, salaries, and insurance premiums.

Economic Profit

The difference between total revenue and total economic costs (including both explicit and implicit costs), reflecting a firm's financial performance.

Perfectly Competitive

A market structure characterized by many buyers and sellers, no barriers to entry, and a homogeneous product.

Long Run

A period in economics where all factors of production and costs are variable, allowing for full industry adjustment.