The Table Contains the Weights (In Pounds)and Heights (In Inches)of

question 11

Essay

The table contains the weights (in pounds)and heights (in inches)of 9 randomly selected adults. Construct a scatter diagram for the data.

$$\begin{array}{l}\begin{array} { c c } \hline \text { Weight (lb)}&\text { Height (in.) } \\ \hline 125 & 60 \\130 & 62 \\128 & 70 \\130 & 65 \\155 & 75 \\150 & 72 \\135 & 68 \\145 & 68 \\145 & 65 \\\hline\end{array}\\\end{array}$$

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Definitions:

Marginal Cost

The price involved in producing one more unit of a product or service.

Marginal Revenue

The additional revenue that is gained by selling one more unit of a product.

Deadweight Losses

Economic inefficiencies that occur when market equilibrium is disrupted, leading to a loss of economic welfare.

Lowest ATC

The point where a firm achieves the lowest average total cost of production, optimizing operational efficiency.