If a Store Like Hhgregg Has Higher Costs Than a Comparable

question 55

Multiple Choice

If a store like hhgregg has higher costs than a comparable Best Buy store, the only way it can have higher profits is if

• A) it has more locations than Best Buy.
• B) its marginal revenue is lower than Best Buy's.
• C) the demand for its goods is higher than Best Buy's.
• D) it sells the quantity associated with its minimum average total cost.

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Definitions:

Grade Equivalent

A measure indicating the school grade level of students to whom a test taker's performance is most similar.

Achievement Test

A type of ability test that measures what one has learned. Types of achievement tests include survey battery tests, diagnostic tests, and readiness tests.

Percentiles

A measure that indicates the value below which a given percentage of observations in a group of observations falls.

Stanines

Derived from the term “standard nines,” this is a standardized score frequently used in schools. Often used with achievement tests, stanines have a mean of 5 and a standard deviation of 2, and range from 1 to 9.