True or False: Apple Computer, Inc

question 179

True/False

True or False: Apple Computer, Inc.collected information on the age of their customers.
Suppose the youngest customer was 12 and the oldest was 72.To study the distribution of the
age among its customers, it can use a percentage polygon.

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Definitions:

Positive Slope

A mathematical depiction of a line on a graph indicating an increase in the variable on the y-axis as the variable on the x-axis increases.

Total Revenue Curve

A graphical representation that shows the relationship between the total revenue a firm receives from selling its product and the quantity of the product sold.

Perfectly Competitive Firm

A company that cannot control market prices and must therefore accept the prevailing market price for its products or services.

Short-run

A period in economics during which some factors of production or inputs are fixed, unable to be changed to respond to market conditions.