Which of the Following Statements Is Correct

question 98

Multiple Choice

Which of the following statements is correct?

• A)Evidence strongly suggests that legislatively mandated input combinations have greatly reduced production costs in many industries.
• B)Legislating input combinations in a particular industry can bias the decision making of the firm's managers and lead to higher-than-necessary costs of production.
• C)Legislating input combinations in a particular industry has little or no effect on the decision making of the firm's managers.
• D)Legislating input combinations in a particular industry is preferred to relying on market forces to determine the cost-minimizing combination of inputs to a production process.

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Definitions:

Short-Term Memory

A cognitive function that holds a small amount of information in an active, readily available state for a short period.

Bits of Information

The smallest units of data in communication and information theory, representing a binary choice or a distinction between two alternatives.

Spacing Effect

A phenomenon in which learning is greater when studying is spread out over time, as opposed to studying the same amount of content in a single session.

Distributed Study

A learning technique where study sessions are spread out over time, as opposed to cramming all material into a short period, enhancing long-term retention of information.