Deciding Whether or Not to Undertake an Activity,economists Compare

question 42

Multiple Choice

deciding whether or not to undertake an activity,economists compare:

• A)the total cost of the activity against the total benefit received.
• B)the total benefit of the activity against the total cost of production.
• C)the additional cost of the activity against the additional benefits received.
• D)the average cost of the activity versus the total benefits received.

---

Definitions:

Negatively Correlated

A statistical relationship between two variables in which one variable increases as the other decreases.

Positively Skewed

Describes a distribution of data where the tail is longer on the right side, indicating a larger number of observations are below the mean.

Negatively Skewed

Describes a distribution of data where the tail is on the left side of the distribution, indicating that the majority of data points are located to the right of the mean.

Research Methods

Techniques or procedures used to gather and analyze information to increase understanding of a topic or issue.