A 2x2x4 Factorial Design

question 49

Multiple Choice

A 2x2x4 factorial design

• A)has three dependent variables
• B)includes eight different conditions
• C)includes an independent variable with three levels
• D)has sixteen different conditions

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Definitions:

Total Cost

The costs, both explicit and implicit, of all the resources used by the firm. Total cost includes a normal rate of return for the firm’s equity capital.

Profitable

A financial status indicating that revenues exceed the costs and expenses associated with operating a business.

Profit-Maximizing Level

The output level at which a firm achieves the highest possible profit, where marginal cost equals marginal revenue.