Please Match the Definition with Scales of Measurements

question 7

Multiple Choice

Please match the definition with scales of measurements .
-Uses numbers in which the differences between values can be quantified in absolute but not relative terms and for which any zero is merely arbitrary

• A) Nominal
• B) Ordinal
• C) Interval
• D) Ratio

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Definitions:

AVC

Average Variable Cost, the total variable costs divided by the quantity of output produced.

AVC

Average Variable Cost refers to the sum of all variable expenses incurred when producing an item, divided by the number of units produced.

ATC

Average Total Cost is determined by dividing the overall cost by the output quantity produced.

MC

Short for Marginal Costs, representing the additional cost incurred in producing one additional unit of a good or service.