How Many Independent Variables Are There in a 2 X2

question 46

Multiple Choice

How many independent variables are there in a 2 x2 x2 factorial design?

• A)​two
• B)​three 
• C)four
• D)​eight

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Definitions:

Total Utility

Differentiated per your instruction, total utility quantifies the complete satisfaction received by a consumer from consuming various amounts of a good or service.

Marginal Utility Data

Information related to the additional satisfaction or benefit a consumer receives from consuming one more unit of a good or service.

Utility-Maximizing

The economic principle that assumes individuals seek to achieve the highest level of satisfaction or utility from their consumption decisions.

Marginal Utility

The added pleasure or benefit received from consuming an additional unit of a good or service.