What Is a Time-Series Chart

question 123

Multiple Choice

What is a time-series chart?

• A) A type of graph in which a circle is divided into sectors that each represent a proportion of the whole.
• B) A chart or graph that presents grouped data with rectangular bars with lengths proportional to the values that they represent.
• C) A chart is a graphical representation showing change of a variable over time.
• D) A small embedded line graph that illustrates a single trend.

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Definitions:

Monopolist

A market participant that is the sole seller of a product or service, having significant control over its price.

Demand Curve

illustrates the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Marginal Cost

The expense incurred in creating an extra single unit of a product or service.

Price Elasticity

A metric that determines how the demand for a certain good fluctuates with its price adjustments.