For a Scale to Have Ordinal Properties, Which of the Following

question 53

Multiple Choice

For a scale to have ordinal properties, which of the following must be established?

• A) If "a" is greater than "b," then "b" is not greater than "a."
• B) If "a" is greater than "b" and "b" is greater than "c," then "a" is greater than "c."
• C) If "a" is equal to "b" and "b" is equal to "c," then "a" is equal to "c."
• D) All of the above.
• E) None of the above.

---

Definitions:

Revenue Maximizing Price

The price point at which a company can generate the maximum amount of revenue from selling its product or service, considering the demand and cost factors.

Football Tickets

Football tickets are passes that allow entry to watch a football game, often sold by teams or authorized vendors.

Demand

The amount of a product or service that buyers are prepared and capable of buying at different price levels.

Gasoline Demanded

The quantity of gasoline consumers are willing and able to purchase at a given price within a specified period.