Outliers Are

question 45

Multiple Choice

Outliers are

• A) impossible values
• B) extreme but not impossible values
• C) data that don't fit your theory
• D) any of these

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Definitions:

Marginal Social Benefit

The additional gain to society as a whole from an additional unit of a good or service.

Emissions Tax

A tax imposed on the emission of pollutants, aimed at reducing the environmental externality costs of these emissions.

Optimal Tax

A tax designed to generate government revenue with the minimum economic distortion or welfare loss.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both the cost to the producer and the cost of any negative externalities associated with production.