An Item Characteristic Curve Is a Graph with ____________ Reflected

question 28

Multiple Choice

An Item Characteristic Curve is a graph with ____________ reflected on the horizontal axis and ______________reflected on the vertical axis.

• A)ability; probability of a correct response
• B)probability of a correct response; ability
• C)ability; probability of an incorrect response
• D)probability of an incorrect response; ability

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Definitions:

Demand Function

A mathematical representation that describes the relationship between the quantity demanded of a good and its price, alongside possible other variables like income or prices of related goods.

Quasilinear Utility

A utility function where one good (usually money) enters linearly and therefore preferences for other goods are independent of the amount of money.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.

Income Elasticity

A measure of how much the demand for a good or service changes in response to changes in the consumer's income.