An Illustration of an Indifference Curve Has

question 37

Multiple Choice

An illustration of an indifference curve has:

• A)prices of the goods on the axes.
• B)quantities of the goods on the axes.
• C)price on the vertical axis, quantity on the horizontal axis.
• D)Price on the horizontal axis, quantity on the vertical axis.

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Definitions:

Correlational Study

A research method used to determine the relationship between two variables, without implying causation.

Cause-and-Effect

Cause-and-effect refers to the relationship between events or things, where one is the result of the other or others, typically serving as the reason something happens.

Experimental Method

A research technique in which an investigator manipulates one or more factors (independent variables) to observe the effect on some behavior or mental process (the dependent variable).

Correlational Studies

Research methods that examine the relationship between two or more variables to determine if a change in one variable is associated with a change in another.