In Order to Create a Histogram in Excel, You Must

question 19

Multiple Choice

In order to create a histogram in Excel, you must identify the "bins" you want. To what are the bins referring?

• A) Polygon
• B) Tally marks
• C) Histogram
• D) Class interval

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Definitions:

Long-Run Equilibrium

A state in which all factors of production and prices adjust fully to economic changes, with all markets clearing and no external pressures affecting supply and demand.

Efficient Scale

The quantity of output that minimizes average total cost.

Perfectly Competitive

A market structure characterized by a large number of small firms, homogenous products, and free entry and exit.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, leading to competition based on factors other than price.