Which Variables Are Always Discrete

question 139

Multiple Choice

Which variables are always discrete?

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

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Definitions:

Total Product

The total quantity of output produced by a firm with a given amount of inputs during a specific period.

Total Revenue

The total amount of money a company receives from selling its goods or services over a specific time period.

Total Cost

The complete cost of producing a specific quantity of output, including both fixed and variable costs.

Industrial Organization

A field of economics that studies the structure of industries, the behavior of firms within the market, and their interaction with market mechanisms.