Which of the Following Is NOT a Characteristic of an Increasing

question 65

Multiple Choice

Which of the following is NOT a characteristic of an increasing cost competitive industry? As the industry expands in the long run,

• A)the price of product remains constant.
• B)the prices of some inputs rise.
• C)the cost of production increases.
• D)the number of firms increase.
• E)none of the above

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Definitions:

Critical Value

A threshold value used in hypothesis testing to determine whether to reject the null hypothesis, based on the statistical model used.

Level of Significance

A threshold within statistical hypothesis testing that determines whether to accept or reject the null hypothesis, paralleling the concept of a significance level but emphasizing its critical value in analysis.

Means

The average of a set of values, calculated by dividing the sum of the values by the number of values.

Populations

Refers to the entire group of individuals or items that are the subject of a statistical study.