The Following Frequency Distribution Represents the Scores on a Math

question 48

Multiple Choice

The following frequency distribution represents the scores on a math test. Find the class midpoint of scores for the interval 40-59. $$\begin{array} { c c } \hline \text { Scores } & \text { Number of students } \\\hline 50 - 59 & 2 \\60 - 69 & 4 \\70 - 79 & 6 \\80 - 89 & 15 \\90 - 99 & 5 \\\hline\end{array}$$

• A) 50.5
• B) 48.5
• C) 49.5
• D) 49.0

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Definitions:

Perfectly Competitive

A market system where there are numerous buyers and sellers, unrestricted entry and departure, and a uniform product.

Sellers

Entities or individuals that make available goods or services for purchasing within the market.

Price Taker

An economic actor that accepts the prevailing market prices and lacks the power to influence those prices due to its small market share.

Natural Monopoly

A market condition where a single supplier is most efficient in serving the entire market's demand, often due to high barriers to entry like significant infrastructural costs.