Which Measures of Central Location Are Not Affected by Extremely

question 66

Multiple Choice

Which measures of central location are not affected by extremely small or extremely large values?

• A)Mean and median
• B)Mean and mode
• C)Mode and median
• D)Standard deviation and mean

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Definitions:

Marginal Revenue

The supplementary income generated from the sale of an additional good or service by a firm.

Total Revenue

The entire amount of income generated by the sale of goods or services by a firm.

Market Price

The prevailing rate at which a product or service is available for purchase or sale in a market driven by competition.

Marginal Revenue

Marginal revenue is the additional income received from selling one more unit of a good or service.