The Height of the Rectangle Depicting a Uniform Distribution Is

question 47

True/False

The height of the rectangle depicting a uniform distribution is the probability of each outcome and it is the same for all of the possible outcomes

---

Definitions:

Average-Fixed-Cost Curve

A graphical representation that shows the average fixed costs of production at different levels of output.

Average-Total-Cost Curve

Graphical representation that shows how the average total costs of production change as the quantity of output is altered.

Average-Fixed-Cost Curve

A graphical representation that shows how the average fixed costs of production decrease as the quantity of output increases, due to spreading fixed costs over a larger number of units.

Average Total Cost

Average total cost is the total cost of production divided by the quantity of output produced, including both fixed and variable costs.