Use the Figure Below to Answer the Following Questions

question 22

Multiple Choice

Use the figure below to answer the following questions.

Figure 1A.1.5
-The graphs in Figure 1A.1.5 are examples of

• A)dot graphs.
• B)graphs that show no relationship between x and y.
• C)dot diagrams.
• D)scatter diagrams.
• E)none of the above.

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Definitions:

Status Quo Bias

A cognitive bias that represents a preference for the current state of affairs, leading individuals to resist change.

Marginal Cost

The expense associated with creating an extra unit of a product or service.

Marginal Benefit

The further satisfaction or value an individual gains from consuming an extra unit of a certain product or service.

Optimal Quantity

The amount of a good or service that achieves the best balance between cost and benefit.