Which of the Following Allows One to Assess the Reliability

question 50

Multiple Choice

Which of the following allows one to assess the reliability of a measure?

• A) Make the observation more than once.
• B) Measure the same quality from a slightly different angle.
• C) Measure the same quality with a slightly different measure.
• D) all of the above

---

Definitions:

Positive Economic Profits

Situations where a firm's total revenues exceed all its costs, including opportunity costs, indicating that it is earning more than the minimum required to stay in business.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for slight differentiation and some control over pricing.

MR = MC

A condition in economics where marginal revenue equals marginal cost, often used to determine the optimal level of output in perfectly competitive markets.

ATC

Average Total Cost, which is the total cost divided by the quantity of output produced. It represents the per-unit production cost at various levels of output.