Excess Capacity Is

question 338

Multiple Choice

Excess capacity is

• A)an example of the inefficiencies of monopolistically competitive markets.
• B)a short-run problem but not a long-run problem.
• C)a characteristic of rising average total cost curves.
• D)Both a and b are correct.

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Definitions:

Simple Random Sample

A segment of a statistical population where every individual in the segment is equally likely to be selected.

Infinite Population

A population size that is so large it is considered limitless for practical statistical purposes, often used in theoretical models.

Independently

Without being influenced or affected by other factors or variables.

Standard Error

The estimate of the standard deviation of a sampling distribution.