Which of the Following Statements Is True

question 103

Multiple Choice

Which of the following statements is true?

• A)Graphical techniques should only be used where there is a small amount of data.
• B)Large data sets are best presented in tabular form.
• C)Graphical techniques create a visual impression,which is easy to distort.
• D)All of these choices are true.

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can purchase with a given budget at specific prices.

Purchase More

The action of buying an increased quantity of goods or services than previously acquired.

Marginal Utility

The additional contentment a customer derives by consuming one more unit of a product or service.

Demand

The desire and ability of consumers to purchase goods and services at various price levels.