A Scatterplot of a Perfect Positive Correlation Would Depict A(n)

question 228

Multiple Choice

A scatterplot of a perfect positive correlation would depict a(n) :

• A)linear increasing function.
• B)linear decreasing function.
• C)linear horizontal function.
• D)absence of a linear relationship.

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Definitions:

Marginal Benefit

The extra value or enjoyment gained by using one more unit of a certain good or service.

Marginal Cost

This term describes the expense associated with manufacturing an additional unit of a particular item, crucial for understanding economies of scale and pricing.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, resulting in no excess supply or demand.