Use the Following to Answer Questions

question 95

Multiple Choice

Use the following to answer questions :
-(Figure: Game-Day Shirts) Use Figure: Game-Day Shirts.Rick is one of the 10 vendors who sell Game-Day T-shirts at football games in a perfectly competitive market.His costs are identical to the costs of the other nine vendors.If the price of a shirt is $11,in the long run:

• A) firms will enter the industry.
• B) firms will exit the industry.
• C) the industry is in equilibrium.
• D) the industry has maximized the average total cost.

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Definitions:

Interviewer Bias

The effect that the presence or action of an interviewer may have on the response of the interviewee, potentially skewing results.

Carryover Effect

In research, the persistence of an effect observed in one condition into another condition or time period.

Social Desirability

The tendency of respondents to answer questions in a manner that will be viewed favorably by others, which can lead to bias in survey research.

Simple Random Sampling

A sampling procedure in which each member of the population has an equal probability of being included in the sample.