Use the following to answer the question(s) below.
A manager of Kim & Lim corporate strategy department thinks that dollars spent on advertising can to some extent be a predictor of total sales dollars. As an aid in long-term planning, she analyzes the following sales and advertising numbers for 2015 (both in $millions) . Information was collected from eight companies of Kim & Lim.
-Statscan compiles data on a number of variables. Which of the following Statscan variables is categorical?
Definitions:
Marginal Social Cost
The comprehensive expense encountered by society to produce one more unit of a good or service, encompassing private expenses as well as any extraneous costs.
Efficient Level
The optimal point at which a particular activity achieves the best output or outcome with the least waste of resources or effort.
Marginal Social Cost
The total cost to society of producing an additional unit of a good, including both private costs and any externalities.
External Cost
Costs of a transaction that affect people other than the buyer or seller, often not included in the price of goods or services.
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