All of the Following Variables,except for Show a Negative Correlation

question 102

Multiple Choice

All of the following variables,except for show a negative correlation.

• A)average income and the incidence of dental disease
• B)adult shoe size and IQ scores
• C)the value of a car and the age of a car
• D)hours spent watching TV and grade-point average

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Definitions:

ATC

Short for Average Total Cost, ATC represents the total cost per unit of output, calculated by dividing the total cost by the quantity produced.

Monopolistic Competition

A business environment where a multitude of firms provide closely related but not identical products, granting them some market control.

Marginal Decision Rule

A principle that suggests decisions should be made by considering the additional benefits and costs of one more unit of change.

MC > MR

A condition where the marginal cost of producing an additional unit is greater than the marginal revenue gained from selling it, which suggests a decrease in production to maximize profits.