Which Measure Indicates How Strongly a Measured Variable Is Correlated

question 6

Multiple Choice

Which measure indicates how strongly a measured variable is correlated with a factor?

• A)factor β
• B)discriminator
• C)factor link
• D)factor loading

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Definitions:

Average Variable Cost

The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.

Short Run

A time period in which at least one input is fixed and cannot be changed by the firm, affecting its production decisions.

Purely Competitive Market

Another term for a perfectly competitive market, emphasizing its features like a large number of small firms and identical products.

Marginal Revenue

The increased earnings resulting from the sale of one extra unit of a good or service.