A Frequency Polygon Is Similar to a Frequency Histogram and Uses

question 140

True/False

A frequency polygon is similar to a frequency histogram and uses the same ordinate and abscissa.

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Definitions:

Marginal Revenue Product

The additional revenue generated from using one more unit of an input in the production process.

Wage Rate

The amount of compensation a worker receives per unit time or per unit of output, often expressed per hour or piece.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource.

Profit-maximizing

The process of adjusting production and sales to achieve the highest possible profit.