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Explain What a Class Diagram Is and in Your Answer

question 47

Essay

Explain what a class diagram is and in your answer, be sure to explain how a class diagram is like a DFD.


Definitions:

Cost Data

Information related to the expenses incurred in the production of goods or the provision of services.

Identical Firms

Identical firms are businesses within the same industry that produce and sell products or services that are very similar in nature, leading to direct competition.

Demand Curve

A graph that illustrates the connection between the cost of a product and the amount of the product buyers are ready to buy at various costs.

Marginal Revenue

The increase in total revenue that results from selling one additional unit of a product.

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