Which of the Following Is the Equation for Calculating the Coefficient

question 72

Multiple Choice

Which of the following is the equation for calculating the coefficient of variation (CV) ?

• A) CV = standard deviation/mean
• B) CV = standard deviation - z-score/mean (total variation)
• C) CV = value of observation's distance from mean/standard deviation
• D) CV = mean/(standard deviation)2

Interpret the impact of external and internal economies and diseconomies of scale on long-run average costs.

Describe the adjustment processes in perfectly competitive markets towards long-run equilibrium under different cost conditions.

Analyze the effects of demand changes on industry growth, prices, and firm entry or exit in the long run.

Understand how industry characteristics influence the shape of the long-run industry supply curve.

---

Definitions:

Collusion

An agreement, usually secretive, between firms to fix prices, limit supply, or inhibit competition.

Candy Bar Manufacturers

Companies or entities that specialize in producing and distributing candy bars.

Grocery Store

A retail establishment that primarily sells food, both fresh and packaged, along with various household items.

Price-Searcher Market

A market in which sellers have some control over the price of their product because the products are differentiated and there is imperfect competition.