On a Chart Created in Excel, the Horizontal Axis Is

question 261

Multiple Choice

On a chart created in Excel, the horizontal axis is called the ____.

• A) x-axis
• B) y-axis
• C) data marker
• D) legend

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Definitions:

Market Price

The existing rate at which a service or asset is offered for buying or selling in a certain market.

Consumer Surplus

The difference between the amount that consumers are willing to pay for a good or service and the actual amount they pay.

Deadweight Loss

The total loss of producer and consumer surplus from underproduction or overproduction.

Underproduction

A situation where the quantity produced of a good or service is less than the socially optimal level, often leading to market failure.