In an Experiment There Are Always Different Levels of The

question 60

Multiple Choice

In an experiment there are always different levels of the:

• A) dependent variable.
• B) criterion variable.
• C) independent variable.
• D) predictor variable.

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Definitions:

Average Costs

The total costs of production divided by the number of units produced, representing the cost per unit.

Returns To Scale

The change in output resulting from a proportional change in all inputs in the production process; can be increasing, constant, or decreasing.

Increasing Returns To Scale

See Economies of scale.

Economies Of Scale

Exist when average costs fall as output increases.