Excel Derives the Chart Scale Based on the Values in the Worksheet

question 55

True/False

Excel derives the chart scale based on the values in the worksheet along the vertical axis, also called the y-axis or value axis of the chart.

---

Definitions:

Long-Run Equilibrium

A state in which all firms in an industry are producing at their minimum long-run average cost and are earning normal profits.

Units of Output

The measurable amount of goods or services produced by a company or industry.

Internal Economies of Scale

cost advantages that a firm obtains due to expansion, leading to a decrease in the average cost per unit.

Plant

A facility where goods are produced or processed, also referring to the physical capital in production.