A Time Series Which Has No Significant Upward or Downward

question 90

Multiple Choice

A time series which has no significant upward or downward trend is referred to as

• A) static.
• B) non-moving.
• C) stationary.
• D) non-stationary.

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Definitions:

MC

Stands for Marginal Cost, which is the cost of producing one additional unit of a good or service.

ATC

Average Total Cost, which is the total cost per unit of output incurred when producing goods or services. It includes both fixed and variable costs.

MR

An abbreviation for Marginal Revenue, which is the additional income from selling one more unit of a good or service.

Long-Run Equilibrium

A situation in a market where supply equals demand, and all factors of production - including labor and capital - are fully utilized, leading to stable prices.