Ranking Questions Generally Produces ___________ Level of Measurement

question 18

Multiple Choice

Ranking questions generally produces ___________ level of measurement.

• A)nominal
• B)ordinal
• C)interval
• D)ratio
• E)none of the above

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Definitions:

Industry Profits

The total earnings of companies within a specific sector after all expenses are subtracted from revenue.

Perfectly Price Discriminate

A pricing strategy where a seller charges each buyer the maximum price they are willing to pay, resulting in the seller capturing all consumer surplus.

Widgets

Widgets are hypothetical, often simplified products or units used in economic and financial explanations and problems.

Total Revenues

The total money received by a company for goods sold or services provided during a certain time period.