A Continuous Variable Assumes Any Value from an Interval (Or

question 52

True/False

A continuous variable assumes any value from an interval (or collection of intervals).

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Definitions:

Voters

Individuals who have the legal right and are registered to vote in elections to choose representatives or make decisions on public issues.

Utility Function

An equation that quantifies the satisfaction or utility that a consumer derives from consuming a set of goods and services, enabling analysis of consumer choices.

Consumption

The employment of products and services by individual consumers or households.

Utility Function

A mathematical representation expressing a consumer's preference ranking system for different bundles of goods, measuring satisfaction derived from consumption.