Which of the Following Is NOT One of the Four

question 44

Multiple Choice

Which of the following is NOT one of the four scales of measurement?

• A) ratio
• B) interval
• C) ordinal
• D) variable

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Definitions:

Unit Costs

The financial outlay for a company to manufacture, warehouse, and dispose of one unit of a specific item or service.

Output

Represents the total amount of goods or services produced by a firm or economy in a specific period.

Minimum Efficient Scale

The smallest level of production a firm can achieve while still taking full advantage of economies of scale in terms of cost per unit.

Long-Run Average Total Cost

The per unit cost of production that includes both fixed and variable costs when all inputs are considered variable in the long run.