A _____ Sample Is Chosen in a Haphazard Manner Relative

question 95

Multiple Choice

A _____ sample is chosen in a haphazard manner relative to the population of interest.

• A)systematic
• B)convenience
• C)probability
• D)random

---

Definitions:

Decreasing Returns to Scale

Decreasing Returns to Scale occurs when a firm increases all inputs by a certain proportion, but the output increases by a smaller proportion, indicating reduced efficiency.

Average Costs

The total cost of production divided by the number of units produced, often used to assess efficiency and profitability.

Decreasing Returns to Scale

A situation in which increasing the scale of production leads to a proportionally smaller increase in output, often due to inefficiencies.

Long Run Average Cost Curve

A graphical representation showing the lowest cost at which a firm can produce any given level of output in the long run, where all inputs are variable.