To Have Text Appear Alongside Each Axis in a Chart

question 288

Multiple Choice

To have text appear alongside each axis in a chart, which of the following should be done?

• A) Add data labels.
• B) Add axis titles.
• C) Add a chart legend.
• D) Add a chart title.

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Definitions:

Economies of Scale

Cost benefits that companies gain from their operation size, where the cost for each unit of production typically falls as the scale expands.

Constant Returns to Scale

A situation in production where increasing all inputs by a certain factor results in output increasing by the same factor.

Average Total Cost

The total cost divided by the quantity of output produced; it includes all variable and fixed costs.

Minimum Efficient Scale

The smallest scale of production at which long-run average total costs are minimized.