Variance Is Never Negative

question 37

True/False

Variance is never negative.

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Definitions:

Sole Proprietor

An individual who owns and operates a business alone, bearing all the responsibilities and benefits of the business.

Short Run

A timeline in economics where at least one factor of production is fixed, constraining the ability to adjust to changing economic conditions.

Long Run

In economics, a period of time in which all factors of production and costs are variable and can be adjusted.

New Entrants

Businesses or individuals that recently entered a market or industry, bringing new competition and potentially disrupting existing dynamics.