In the Formula Y = a + Bx, Y Refers

question 57

Multiple Choice

In the formula Y = a + bx, Y refers to the

• A)slope.
• B)intercept.
• C)dependent variable.
• D)independent variable.

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Definitions:

Marginal Cost

The extra production cost for creating an additional unit of a good or service.

Average Total Cost

Represents the total cost of production (fixed plus variable costs) divided by the total quantity produced, indicating the cost per unit of output.

Subsidized

Financial support extended by the government or another body to reduce the cost of goods, services, or activities to encourage more consumption or participation.

Natural Monopolist

A single provider of a good or service in a market, where the nature of the product or service makes competition impractical due to high infrastructure or start-up costs.