A Researcher Measures the Temperature of His Laboratory Room to the Nearest

question 7

Multiple Choice

A researcher measures the temperature of his laboratory room to the nearest degree, over a ten day period. He finds that the average is 68º Fahrenheit. In this example, temperature is a _____________ variable, and 68º represents the _________ limits of the measure.

• A) continuous variable, real limits
• B) discrete variable, real limits
• C) continuous variable, apparent limits
• D) discrete variable, apparent limits

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Definitions:

Short Run

The period in economic theory during which at least one factor of production is considered fixed.

Long Run

A period in which all factors of production can be varied, and no inputs are fixed.

Demand Inelasticity

A situation where the demand for a product does not change significantly with a change in its price.

Wendy's Hamburgers

A popular fast-food chain known for its burgers, recognized for its square hamburger patties.