In the Following Data Set, What Is the Mean

question 36

Multiple Choice

In the following data set, what is the mean? ( 12, 0, 0, 1, 1, 1, 6, 10, 11 )

• A) 4.66
• B) 1
• C) 42
• D) 6
• E) 1 and 0

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Definitions:

Collusively

Acting in a coordinated manner, often secretly, between firms to set prices or market conditions, usually to the detriment of competition.

Oligopolistic Firms

Companies that operate in a market structure characterized by a small number of firms dominating the market, leading to limited competition.

Pure Monopoly

A market structure where a single supplier dominates the market, offering a unique product with no close substitutes.

Cartels

Organizations of producers or suppliers who collaborate to control production, pricing, and marketing of a product to maximize collective profits.