In a Scatter Diagram, a Line That Provides an Approximation

question 9

Multiple Choice

In a scatter diagram, a line that provides an approximation of the relationship between the variables is known as

• A)approximation line
• B)trend line
• C)line of zero intercept
• D)line of zero slope

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Definitions:

Marginal Utility

It describes the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Total Utility

The overall satisfaction or benefit received by consuming a product or service.

Marginal Utility

The additional satisfaction a consumer gains from consuming one more unit of a good or service.

Marginal Utility

The additional satisfaction or benefit (utility) that a consumer derives from acquiring or consuming one more unit of a good or service.