The Opportunity Cost of One More Slice of Pizza in Terms

question 25

Multiple Choice

The opportunity cost of one more slice of pizza in terms of sodas is the

• A) number of pizza slices we have to give up in order to get one extra soda.
• B) number of sodas we have to give up in order to get one extra pizza slice.
• C) total number of sodas that we have divided by the total number of pizza slices that we have.
• D) total number of pizza slices that we have divided by the total number of sodas that we have.
• E) price of a pizza slice minus the price of a soda.

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Definitions:

Independent Variable

The variable in an experiment that is manipulated or changed by the researcher to observe its effects on the dependent variable.

SSE

Stands for Sum of Squared Errors, a measure used in statistics to indicate the difference between the observed and predicted values.

Coefficient Of Determination

A statistical measure, often denoted as R^2, that illustrates the proportion of variance for a dependent variable that's explained by an independent variable or variables in a regression model.

Y-intercept

The point where a line crosses the Y-axis of a graph.