Given the Following Set of Scores X : 10, 12

question 23

Multiple Choice

Given the following set of scores X : 10, 12, 6, 8, 9, 11, 13, 13, 5, 0, 1 What is the mode?

• A) 0
• B) 6
• C) 13
• D) 9

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Definitions:

Total Utility

The total satisfaction received from consuming a given total quantity of a good or service.

Marginal Utility

The additional satisfaction or benefit received by consuming one more unit of a good or service.

Consumer Demand Curve

illustrates the relationship between the price of a good or service and the quantity demanded by consumers over a period, typically showing an inverse relationship.

Diminishing Marginal Utility

The principle that says the additional satisfaction a consumer gains from consuming one more unit of a good or service will lessen with each additional unit consumed.