Which of the Following Is Not an Option for a Perfectly

question 62

Multiple Choice

Which of the following is not an option for a perfectly competitive firm that suffers short-run losses?

• A)shutting down
• B)reducing production
• C)reducing the use of variable factors
• D)raising the price

---

Definitions:

Alternative Hypothesis

The hypothesis that is tested against the null hypothesis, usually representing the notion of a difference or effect.

Type I Error

Erroneously dismissing a true null hypothesis, often called a "false positive."

Sample Mean

The average obtained from a sample, calculated by summing all sample data points and dividing by the number of points.

Null Hypothesis

A statement or assumption that there is no effect or no difference, and is the hypothesis that researchers aim to test against.