If Price Equals Average Total Cost at the Profit-Maximizing Output

question 52

Multiple Choice

If price equals average total cost at the profit-maximizing output level,then in the short run,

• A)profit is positive
• B)profit is negative
• C)the firm will go out of business
• D)the firm will earn zero profit
• E)the firm's supply curve is horizontal

---

Definitions:

F-ratio

A statistic commonly used in ANOVA (Analysis of Variance) to compare the variances between groups to see if there is a significant difference between them.

Critical Value

A point on the scale of the test statistic beyond which the null hypothesis is rejected; it depends on the chosen significance level.

One-way ANOVA

A statistical technique used to check for significant disparities in the mean values of three or more independent groups.

DfWG

Degrees of Freedom Within Groups, used in ANOVA (Analysis of Variance) to calculate variability within groups of data.