Determine Which of the Following Four Functions Might Be Used

question 140

Multiple Choice

Determine which of the following four functions might be used as a model for the data: linear: f(x) = mx + b; quadratic: f(x) = bx + c, a > 0; quadratic: f(x) = + bx + c, a < 0; polynomial, not quadratic or linear.
- Marginal revenue In $/connector Number of connectors produced

• A) f(x) = mx + b
• B) Polynomial, not quadratic or linear
• C) + bx + c, a < 0
• D) + bx + c, a > 0

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Definitions:

Market Price

is the current price at which a product, security, or commodity can be bought or sold in a marketplace.

Value

An individual’s value for a good or service is the amount of money he or she is willing to pay for it.

Law of Diminishing Marginal Value

, also known as the Law of Diminishing Marginal Utility, states that as a person consumes more of a product, the satisfaction or utility from consuming each additional unit declines.

First Slice

The initial allocation or offering of a resource, opportunity, or product, indicating priority or privilege in its reception.