A Survey of 500 Top Canadian Companies Reported What the Companies

question 61

Multiple Choice

A survey of 500 top Canadian companies reported what the companies' hiring outlook was for the
Next 18 months as well as the general company outlook for the economy over the same period of
Time.
What is the probability that a randomly selected company from this sample does not have a
Favourable outlook for the economy over the next 18 months?

• A) 325/500
• B) 260/500
• C) 175/500
• D) 65/500

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Definitions:

Marginal Cost

Marginal cost is the additional cost incurred in the production of one more unit of a good or service.

Average Total Cost

The per unit cost of production, calculated by dividing the total costs (fixed and variable) by the total quantity of output produced.

Economic Profits

The excess of a firm's total revenues over its opportunity costs, reflecting profitability beyond the normal return on investment.

Competitive Price-searcher Market

A market in which firms have some control over prices because their products are differentiated, but they still face competition and must search for competitive pricing strategies.