The Graph Above Shows Cost Curves for a Perfectly Competitive

question 87

Multiple Choice

The graph above shows cost curves for a perfectly competitive firm.If market price is $2,how much profit will the firm earn?

• A)$600
• B)-$600
• C)zero
• D)$400

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Definitions:

Construct Validity

The extent to which a test measures the theoretical construct or concept it is intended to measure.

Content Validity

A type of validity that examines how well a test samples a universe of items.

Reliability

The extent to which a measurement instrument yields reliable and uniform outcomes across various occasions.

Validity

The degree to which a test or measurement accurately reflects the concept or construct it is intended to assess.