One of the Interesting Findings of a Survey of Firm

question 90

Multiple Choice

One of the interesting findings of a survey of firm managers by Blinder et al.is that:

• A)the vast majority of firms pay considerable attention to marginal costs in making decisions about how much output to produce.
• B)the majority of respondents suggested that fixed costs are a relatively unimportant consideration when making output decisions.
• C)approximately 75 percent of respondents indicated that their marginal costs of production are rising over the relevant range of output.
• D)a significant percentage of respondents to the survey did not appear to understand the concept of marginal cost.

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Definitions:

Descriptive and Inferential Statistics

Descriptive statistics summarize and organize data from a sample, while inferential statistics use that data to make generalizations or predictions about a larger population.

20th Century

The period from January 1, 1901, to December 31, 2000, characterized by significant global changes including technological advances, wars, and cultural shifts.

Uncontrolled Case Study

A descriptive, exploratory analysis of a single individual or group without the use of a comparison or control group.

Individual Subjects

Participants in a study viewed as separate entities, each providing unique data or insights.