Figure 21-1

question 155

Multiple Choice

Figure 21-1.The figure shows three indifference curves and a budget constraint for a certain consumer named Jack.
-Refer to Figure 21-1.If Jack's income is $12.60,then the price of a pound of apples is

• A) $4.50.
• B) $3.85.
• C) $3.00.
• D) $2.80.

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Definitions:

Variable

An element, feature, or factor that is likely to vary or change; in research, it is something that is measured or manipulated to assess its effects on an outcome.

Statistic

A numerical value that describes or summarizes some aspect of a set of data.

Distribution

The way in which values in a dataset are spread out or clustered across a range.

Variability

Variability is a statistical concept that describes the extent to which data points in a data set differ from each other and from the average or mean value of the set.