To Simplify a Frequency Distribution for a Variable That Contains

question 19

Multiple Choice

To simplify a frequency distribution for a variable that contains a large number of categories, it is often helpful to create:

• A)An absolute frequency distribution.
• B)A relative frequency distribution.
• C)A cumulative frequency distribution.
• D)A grouped frequency distribution.

---

Definitions:

Variable Costs

Costs that vary directly with the level of production, such as materials and labor.

MC

In economics, MC typically refers to Marginal Cost, which is the cost of producing one more unit of a good.

ATC

The total cost per unit of production, calculated by dividing the overall production cost by the number of units produced.

Production Function

A production function describes the relationship between inputs used in production and the output generated from those inputs.