A Graph That Plots the Intersection of Paired Measures,that Is,the

question 6

Multiple Choice

A graph that plots the intersection of paired measures,that is,the points at which paired X and Y measures cross is called a

• A) scatter diagram.
• B) histogram.
• C) frequency polygon.
• D) frequency distribution.

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Definitions:

Production Isoquants

Curves that represent combinations of various inputs that result in the same level of output, used in the analysis of production technology.

Marginal Product

The additional output that is produced by employing one more unit of a particular input, keeping all other inputs constant.

Machines

Mechanical or electrical devices that perform specific tasks or assist in completing work more efficiently.

Labor

Labor represents the human effort, both physical and mental, used in the production of goods and services.