Construct a Frequency Polygon A)


B)

question 51

Multiple Choice

Construct a frequency polygon.
- $\begin{array}{l|c}\begin{array}{l}\text { Hours worked } \\\text { per day }\end{array} & \begin{array}{c}\text { Number of } \\\text { employees }\end{array} \\\hline 2-3 & 5 \\4-5 & 15 \\6-7 & 50 \\8-9 & 25 \\10-11 & 5\end{array}$

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Definitions:

Herfindahl Index

A calculation of how concentrated a market is, achieved by adding together the market share squares of every firm within that industry.

Market Power

The ability of a company or group of companies to manipulate prices or market conditions in their favor, often due to a lack of significant competition.

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and potentially higher prices.

Monopoly

A market configuration where there is only one seller offering a distinctive product in the marketplace.