As Part of an Economics Class Project, Students Were Asked

question 2

Multiple Choice

As part of an economics class project, students were asked to randomly select 500 New York Stock Exchange (NYSE) stocks from the Wall Street Journal. As part of the project, students were asked to summarize the current prices (also referred to as the closing price of the stock for a particular trading date) of the collected stocks using graphical and numerical techniques. Identify the sample of interest for this study.

• A) the entire set of stocks that are traded on the NYSE
• B) the 500 NYSE stocks that current prices were collected from
• C) the current price (or closing price) of a NYSE stock
• D) a single stock traded on the NYSE

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Definitions:

Diseconomies Of Scale

Exist when average costs rise with output.

Marginal Costs

The cost associated with producing one additional unit of a product, useful for decision-making on production levels and pricing.

Constant Returns To Scale

When average costs are constant with respect to output level.

Economies Of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale.