Which of the Following Is Most Likely to Be Distorted

question 35

Multiple Choice

Which of the following is most likely to be distorted by an extreme number at either end?

• A) Standard deviation
• B) Median
• C) Mode
• D) Mean

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Definitions:

Marginal Rate of Substitution

The pace at which a consumer is capable of sacrificing some portion of one item to obtain a different item, without altering their overall happiness.

Marginal Rate of Substitution

The rate at which a consumer is willing to substitute one good for another while maintaining the same level of utility.

Marginal Utilities

The supplementary utility or satisfaction received by using one more unit of a good or service.

Lemonade

A sweetened beverage made from lemon juice, water, and sugar, often associated with simple entrepreneurial ventures like lemonade stands.