Which Is Not a Variable of Central Tendency

question 23

Multiple Choice

Which is not a variable of central tendency?

• A) Mean
• B) Median
• C) Mode
• D) Standard Deviation
• E) None of these

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Definitions:

Marginal Utility

The additional satisfaction or utility gained by consuming one more unit of a good or service.

Income Effect

The change in an individual's consumption resulting from a change in their real income, due to price changes or other factors.

Law of Demand

indicates the inverse relationship between the price of a good or service and the quantity demanded, with demand typically decreasing as prices increase, all else being constant.

Total Utility

The overall satisfaction or happiness received from consuming a certain amount of goods or services.