What Is the Difference Between a Bar Chart and a Histogram

question 45

Multiple Choice

What is the difference between a bar chart and a histogram?

• A)They can both be used to represent numerical data.
• B)They can both be used to represent categorical data.
• C)A bar chart represents numerical data and a histogram represents categorical data.
• D)A bar chart represents categorical data and a histogram represents numerical data.

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Definitions:

Average Revenue

The total revenue received by a firm from selling its products divided by the total quantity of the product sold, essentially the average price per unit sold.

Indistinguishable

Unable to be identified as different or distinct when compared to another.

Average Revenue

The amount of money a firm earns per unit of output sold, calculated by dividing total revenue by the quantity sold.

Marginal Cost

The increase or decrease in the total cost that arises when the quantity produced is incremented by one unit.