Which of the Following Variables Are Continuous

question 39

Multiple Choice

Which of the following variables are continuous?
i. an automobile's gas mileage
ii. the air pressure in an automobile's spare tire
iii. an automobile's sticker price

• A) None are continuous.
• B) i
• C) i and ii
• D) i, ii, and iii

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Definitions:

(P - ATC)q

The formula representing profit in economic terms, where P stands for price, ATC for average total cost, and q for quantity produced or sold.

Total Revenue

The total receipts from sales of a firm's goods or services.

Marginal Revenue

The additional income generated from the sale of one more unit of a good or service.

Average Variable Cost

The total variable cost divided by the total output, representing the variable cost per unit of output.