If a Scale Has Equal Intervals Between Values and a Single

question 65

Multiple Choice

If a scale has equal intervals between values and a single underlying quantitative dimension, then it is a(n) ____ scale of measurement.

• A) ordinal.
• B) nominal.
• C) ratio.
• D) interval.

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Definitions:

Economic Efficiency

A situation where resources are allocated in a way that maximizes the net benefit to society.

Market Demand Curve

A graphical representation that shows the total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Marginal Benefit

The gain in utility or satisfaction derived from the additional consumption of a unit of a good or service.

Marginal Benefit

The enhanced benefit or happiness one achieves by using an extra unit of any good or service.