How Many Degrees of Freedom Does a 3 X 3

question 22

Multiple Choice

How many degrees of freedom does a 3 x 3 bivariate table have?

• A) 8
• B) 6
• C) 4
• D) 3

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Definitions:

Capital-labor Ratio

The ratio of the total capital employed by a firm to the number of its labor force, indicating the amount of capital used per worker.

Production Function

Function showing the highest output that a firm can produce for every specified combination of inputs.

Annual Output

The total production or quantity of goods and services produced by a company or economy in one year.

Economies of Scale

The cost advantage achieved by an increase in production, leading to a decrease in the average cost per unit through efficient allocation of resources and spreading of fixed costs.