Use the Following Diagram to Answer the Following Questions

question 62

Multiple Choice

Use the following diagram to answer the following questions.


-Refer to Housing. As we move down the production possibilities curve from point A to point C, there will be:

• A) an increase in both the marginal cost and marginal benefit of cars.
• B) a decrease in both the marginal cost and marginal benefit of cars.
• C) a decrease in the marginal cost of cars and an increase in the marginal benefit of cars.
• D) an increase in the marginal cost of cars and a decrease in the marginal benefit of cars.

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Definitions:

Mean

The average of a set of numbers, calculated by adding all the values together and dividing by the number of values.

Sample Mean

Mean calculated from data for a sample.

Confidence Interval

A set of values, taken from sampled data, that potentially covers the value of an unknown parameter of the population.

Mean Score

The average value calculated by adding all individual scores and dividing by the number of scores.