Which of the Following Measurements Is Likely to Have the Least

question 55

Multiple Choice

Which of the following measurements is likely to have the least variation?

• A)The individual heights of children, measured in inches, in a randomly selected class of sixth grade students.
• B)The individual mass measured in grams of quarters in a randomly selected ten dollar roll of quarters.
• C)The individual weights in ounces of oranges in a randomly selected five- pound bag of oranges at the market.

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Definitions:

Average Variable Cost (AVC)

The total variable costs of production divided by the quantity of output produced, indicating the average cost of producing each unit excluding fixed costs.

Marginal Cost (MC)

The expense incurred from manufacturing an extra unit of a product or service.

Marginal Revenue

The additional income that a firm earns from selling one more unit of a good or service, critical for determining optimal production levels.

Total Profit

The total revenue of a business after subtracting all costs and expenses related to its operation.