Which of the Following Is True of Euclidean Distances

question 27

Multiple Choice

Which of the following is true of Euclidean distances?

• A)It is used to measure dissimilarity between categorical variable observations.
• B)It is not affected by the scale on which variables are measured.
• C)It increases with the increase in similarity between variable values.
• D)It is commonly used as a method of measuring dissimilarity between quantitative observations.

---

Definitions:

Profit-Maximizing

The process of finding the level of output at which a firm makes the highest profit.

Short Run

A period in which at least one factor of production is fixed and cannot be varied by the firm.

Long Run

A period sufficient for all inputs in production to be adjusted, including physical capital and labor.

Allocative Efficiency

Allocative Efficiency occurs when resources are distributed in a way that maximizes the net benefit to society, ensuring that the right goods are produced to meet consumer preferences.