Data on the Number of Part-Time Hours Students at a Public

question 50

Multiple Choice

Data on the number of part-time hours students at a public university worked in a week were
Collected.Which of the following is the best chart for presenting the information?

• A) A pie chart.
• B) A Pareto chart.
• C) A percentage table.
• D) A percentage polygon.

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Definitions:

Substitution Effect

The economic principle that as prices rise, consumers will replace more expensive items with less costly alternatives.

Income Effect

The change in consumption resulting from a change in real income.

Theory of Consumer Choice

An economic framework describing how consumers make decisions to allocate their resources optimally among various goods and services.

Indifference Curve

A graph representing combinations of goods among which a consumer is indifferent, showing trade-offs between two goods.