A count variable refers to a dependent variable that can take on:
A. nonnegative integer values.
B. nonnegative fractional values.
C. negative fractional values.
D. negative integer values.
Answer: A
Economics
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The marginal cost curve is U-shaped. Over the range of output for which the marginal cost is falling as output increases, the marginal product is
A) increasing. B) decreasing. C) constant. D) probably changing, but there is no stable relationship between the marginal cost and the marginal product. E) not defined.
Economics
Refer to the cost table below. Diminishing marginal returns begins to set in with the production of which unit of output?
A. 2
B. 3
C. 4
D. 5
Economics