A Graphical Device for Depicting Qualitative Data That Have Been

question 81

Multiple Choice

A graphical device for depicting qualitative data that have been summarized in a frequency distribution or a relative frequency distribution is a(n) :

• A)histogram
• B)stem-and-leaf diagram
• C)ogive
• D)bar graph
• E)box plot

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Definitions:

ATC

Average Total Cost, which is the total cost divided by the quantity of output produced.

MR

Marginal Revenue is the additional income from selling one more unit of a good; sometimes equal to price.

Short-Run Equilibrium

A situation in which the quantity supplied and quantity demanded in a market are equal at a particular price level, but only for a temporary period.

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical, allowing for competition based on product differentiation.