The Following Table Shows the Number of Workdays Absent Based

question 96

Multiple Choice

The following table shows the number of workdays absent based on the length of employment in
Years.
i. The Y intercept of the linear equation is 7.7407.
ii. The dependent variable (Y) is the number of years employed.
iii. The slope of the linear equation is -0.6852.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Rivals' Price

The cost set by competing businesses for similar products or services in the market.

Marginal Cost

The additional cost associated with producing one more unit of output.

Profit Maximizing

The process or strategy of adjusting production levels, pricing, and other operational parameters to achieve the highest possible profit.

Kinked Demand Curve

A concept in economics describing a situation where a firm's demand curve has a distinct kink due to competitors only matching price increases but not price decreases, leading to price rigidity.