The Coefficient of Correlation Ranges Between

question 13

Multiple Choice

The coefficient of correlation ranges between

• A)0 and 1
• B)-1 and +1
• C)minus infinity and plus infinity
• D)1 and 100

---

Definitions:

AVC Curve

Represents the average variable cost of production plotted against the quantity of output, showing how variable costs per unit change with changes in output.

MC Curve

Short for Marginal Cost Curve, it represents the change in total cost that arises when the quantity produced is incremented by one unit.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Average Total Cost

The total cost of production divided by the total quantity produced, indicating the average cost per unit of output.