Scores on a Test Range from 12 to 90, with a Mean

question 27

Multiple Choice

Scores on a test range from 12 to 90, with a mean of 60 and a standard deviation of 10. If a particular participant scored 40 on the test, his z-score would be

• A).40.
• B)-.10.
• C)-2.0.
• D).70.

---

Definitions:

Dominant Firms

Companies that have a major share of the market sales or exert significant influence in their industry.

Contestable Market

A market structure where there are no barriers to entry or exit, and hence, firms face potential competition.

Exceeds Marginal Cost

The condition where the revenue received from the sale of an additional unit of output is greater than the cost required to produce that additional unit.

Contestable Markets

Markets where the threat of potential entry by competitors influences the behavior and pricing of existing firms.