In a Randomized Block Design with 4 Treatments and 3

question 75

Multiple Choice

In a randomized block design with 4 treatments and 3 blocks there are

• A)4 degrees of freedom for treatments, 3 for blocks and 12 for error.
• B)3 degrees of freedom for treatments, 3 for blocks and 9 for error.
• C)3 degrees of freedom for treatments, 2 for blocks and 5 for error.
• D)3 degrees of freedom for treatments, 2 for blocks and 6 for error.
• E)4 degrees of freedom for treatments, 2 for blocks and 6 for error.

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Definitions:

Marginal Revenue Curve

A graphical representation showing how the revenue from selling one more unit of a good or service changes as production volume changes.

Price-searcher Firm

A company that has the ability to set the price for its products because it does not face perfect competition.

Marginal Revenue

The increase in revenue that results from the sale of one additional unit of product.

Profit-maximizing Output

The level of production at which a company achieves the highest possible profit.