Setting Out or Formatting the Material in an Appropriate Way

question 30

Multiple Choice

Setting out or formatting the material in an appropriate way in the long report is important because

• A) there may be a wide range of report readers with varying degrees of literacy.
• B) the use of headings and spaces makes for more readable information.
• C) the report needs to look friendly and impersonal.
• D) it makes arguments put forward by the report more convincing.

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Definitions:

Strictly Convex

A term often used in mathematics and economics to describe a curve or function that curves away from the origin more sharply than a straight line, indicating increasing marginal effects.

Perfect Substitutes

Perfect substitutes are products or services that can be used in exactly the same way, offering the same utility to consumers, thus one can replace the other without loss of value or function.

Homothetic Preferences

Consumer preferences that are consistent or proportionate across different scales or levels of consumption, indicating a straight line through the origin in a utility function graph.

Quasilinear Preferences

Preferences where utility is a linear function of one good, making the consumer's marginal rate of substitution between goods independent of the level of consumption of that good.