Since the Population Size Is Always Larger Than the Sample

question 164

Multiple Choice

Since the population size is always larger than the sample size, then the sample statistic

• A)can never be larger than the population parameter
• B)can never be equal to the population parameter
• C)can be smaller, larger, or equal to the population parameter
• D)can never be smaller than the population parameter

---

Definitions:

ATC Curve

A graphical representation of the average total cost of producing various quantities of output, showing how unit costs change with changes in output level.

AVC Curve

A graph that represents the average variable cost of producing each quantity of output, showing how these costs vary with changes in output levels.

Short-Run Situation

A period in which at least one of a firm's inputs is fixed, limiting its capacity to adjust output levels quickly.

Marginal Revenue

The increase in revenue a business gets from the sale of an extra unit of a product or service.