SELECT ALL THAT APPLY

question 15

Multiple Choice

SELECT ALL THAT APPLY.
-A bivariate relationship is said to be a(n)

• A)direct casual relationship if it cannot be accounted for by other theoretically relevant variables.
• B)spurious relationship if both the independent and dependent variables are influenced by a casually prior control variable,and there is no casual link between them.
• C)partial relationship if the variables are reexamined in a partial table.
• D)intervening relationship if the control variables do not intervene between the independent and dependent variables.

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Definitions:

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs.

Economic Profits

Profits that exceed the costs of all inputs, including both explicit costs (like wages and materials) and implicit costs (like the opportunity cost of capital).

Industry Equilibrium

A state where supply and demand in an industry are balanced, leading to stable prices and quantities.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain in excess of the opportunity costs.