The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4
-Protection is rarely withdrawn from infant industries because such firms are necessary to ensure creation of domestic jobs.
Definitions:
Class Interval
A range of values in a dataset that is grouped together for the purpose of constructing a frequency distribution or histogram.
Frequency Distribution
A summary of data showing the number (frequency) of observations in each of several non-overlapping categories or bins.
Cumulative Frequency
A count of the number of occurrences that fall within certain class intervals or categories, accumulated from the beginning of a set of data up to each point.
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