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The Histogram Is a Horizontal Bar Chart in Which the Width

question 66

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The histogram is a horizontal bar chart in which the width of the bars represents the relative or cumulative frequency of occurrence of a specific variable.


Definitions:

Price

The financial requirement for obtaining a service or good.

Supply Shifts

Movements of the supply curve to the left or right, indicating a change in the quantity supplied at a given price, caused by factors other than the price of the good itself.

Equilibrium Point

The market condition where demand for a product equals its supply, resulting in a stable price and quantity.

Soft Pretzels

A type of baked pastry made from dough that is commonly twisted into a knot shape and has a soft, chewy texture.

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