The Minimum Correlation Is __________ and the Maximum Correlation Is

question 32

Multiple Choice

The minimum correlation is __________ and the maximum correlation is __________.

• A) - 1; 0
• B) - 1; + 1
• C) 0 ; + 1
• D) - 100; +100
• E) negative infinity; positive infinity

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Definitions:

Demand Schedule

A table that lists the quantity of a good a consumer will purchase at various prices in a market.

Supply Schedule

A table that shows the relationship between the price of a good and the quantity supplied.

Competitive Market

A market structure characterized by many sellers and buyers, free entry and exit, and products that are similar but differentiated.

Going Price

The current market rate at which a particular good, service, or commodity can be bought or sold.