When Computing the Mean, the Smallest Value

question 42

Multiple Choice

When computing the mean, the smallest value

• A) can never be negative.
• B) can never be zero.
• C) can never be less than the mean.
• D) can be any value.

---

Definitions:

Inputs

Resources used in the production process, including labor, technology, and materials.

Economies Of Scale

Situation in which output can be doubled for less than a doubling of cost.

Increasing Returns

A situation where the addition of more units of input results in a more-than-proportional increase in output.

Competitive Market

A market structure characterized by many buyers and sellers, such that no single party can dictate the market price.