In a 3*4 Factorial Design There Are ________ Main Effect(s)and

question 9

Multiple Choice

In a 3*4 factorial design there are ________ main effect(s) and ________interaction(s) possible.

• A)3; 4
• B)2; 3
• C)2; 1
• D)1; 2

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Definitions:

Purely Competitive

A market structure characterized by many buyers and sellers, all of whom have little to no influence on the market price of goods and services.

Marginal Resource Cost

The additional cost incurred by a firm or economy for utilizing one more unit of a resource, used in making efficient production and resource allocation decisions.

Profit-Maximizing

The process by which a firm determines the price and output level that returns the greatest profit.