Refer to Research Study 3

question 7

Multiple Choice

Refer to Research Study 3.3 above to answer the following question. Quinn's concern is addressing which of the following?

• A) The study's operational validity
• B) The study's statistical validity
• C) The study's internal validity
• D) The study's external validity
• E) The study's construct validity

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Definitions:

Economies of Scale

Reductions in per-unit cost that organizations achieve through expanded production scales, where larger output volumes usually mean decreased costs per unit.

Long-run Average Total Cost

The average cost per unit of output when all inputs, including capital, can be varied, and economies of scale are accounted for.

Long-run Total Cost

The overall expenses incurred by a firm when all inputs are variable, reflecting costs over a time when firms can adjust all factors of production.

Long-run Average Total Cost

The per unit cost of production when all inputs, including both fixed and variable costs, are adjusted to their optimal levels over time.