If Julio Assigns 0 to Indicate Women and 1 to Indicate

question 33

Multiple Choice

If Julio assigns 0 to indicate women and 1 to indicate men, he is using a(n) ______.

• A) equal interval scale
• B) ratio scale
• C) nominal scale
• D) ordinal scale

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Definitions:

Marginal Cost

The cost of producing one additional unit of a product or service.

Output

The total amount of goods and services produced by an economic system, company, or sector within a certain period.

Marginal Cost

The cost incurred by producing one additional unit of a good or service, which varies depending on the level of production.

Profit

The financial gain accrued from a business activity when total revenues exceed total expenses.