The Number of Work Stoppages in a Highly Industrialized Region

question 14

Multiple Choice

The number of work stoppages in a highly industrialized region for selected months are: 6, 0, 10, 14, 8 and 0. What is the median number of stoppages?

• A) 0
• B) 6
• C) 7
• D) 8
• E) None of the choices are correct.

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Definitions:

Typical Firm

A representative entity in an industry or market that reflects the common attributes of businesses within that context.

Short Run

A period in economics where at least one input is fixed, meaning that firms can adjust production levels but not capacity.

Long-Run Average-Total-Cost Curve

A curve that shows the lowest cost at which a firm is able to produce a given level of output in the long run, when all inputs can be varied.

Workers

Individuals engaged in a task or activity, especially in the context of employment, to earn wages or salary.