What Kind of Correlation Would One Expect to Find Between

question 122

Multiple Choice

What kind of correlation would one expect to find between the results of two dice thrown simultaneously?

• A) positive
• B) zero
• C) negative
• D) perfect positive

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Definitions:

Producer Surplus

The difference between the amount that a producer is actually paid for a good compared to the minimum amount they would be willing to accept for the good.

Elasticity of Demand

A measure of how much the demand for a product changes in response to a change in the price of that product.

Deadweight Loss

The inefficiency in economics that emerges when there is a failure to achieve or an inability to achieve equilibrium for any good or service.

Bread

A staple food made from dough of flour and water, usually by baking, and a common component of many diets worldwide.