Large Sample Size,n,is Desirable Because

question 19

Multiple Choice

Large sample size,n,is desirable because

• A)upper and lower limits of the confidence interval for the true population proportion are closer to one another
• B)upper and lower limits of the confidence interval for the true population proportion are further apart
• C)point estimate of the population proportion is larger
• D)point estimate of the population proportion is smaller

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Definitions:

Incumbent Firms

Established companies that currently dominate a sector or industry.

New Firms

Newly established business entities that often bring innovation, competition, and dynamism to their respective markets.

Long-Run Equilibrium

A state in which all factors of production and prices adjust fully to economic changes, with all markets clearing and no external pressures affecting supply and demand.

Efficient Scale

The quantity of output that minimizes average total cost.