When There Is More Than One Independent Variable in a Regression

question 53

Short Answer

When there is more than one independent variable in a regression model,we refer to the graphical depiction of the equation as a(n)____________________ rather than as a straight line.

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Definitions:

Marginal Cost

The cost for the creation of one extra unit of a product or service.

Marginal Revenue

The extra revenue obtained by selling an additional unit of a product or service.

Marginal Revenue

The additional income gained from selling one more unit of a product or service.

Marginal Cost

The supplementary expenditure arising from the creation of an additional unit of a good or service.