The Most Common Sort of Dichotomous Format Is

question 3

Multiple Choice

The most common sort of dichotomous format is

• A)multiple choice.
• B)Q-sort.
• C)Likert.
• D)true-false.

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Definitions:

Monopolistic Firms

Companies that have significant control over the market for a particular good or service, allowing them to influence price and production levels.

Economic Inefficiency

A situation where resources are not used in the most productive way, often leading to waste or a loss of potential output.

Minimum Average Total Cost

The lowest point on the average total cost curve, where a firm is most efficiently combining resources to produce goods or services.

Marginal Cost

The extra expense associated with the production of an additional single unit of a product or service.