The Indifference Curves of Perfect Substitutes Are

question 117

Multiple Choice

The indifference curves of perfect substitutes are:

• A)straight lines
• B)at right angles
• C)bowed inwards
• D)bowed outwards

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Definitions:

Coefficient of Correlation

A mathematical gauge that assesses the strength of the bond between the relative movements of two variables.

Sum of Squares

A statistical measure that quantifies the variability or dispersion of a set of numbers by squaring their deviations from the mean.

Coefficient of Determination

A statistical measure represented by R^2, which shows the proportion of variance in the dependent variable that is predictable from the independent variables.

Sum of Squares

A statistical measure that quantifies the variance or dispersion of a set of numbers by summing the squared differences between each number and the mean.