________ Is a Procedure That First Assigns or Determines a Cluster

question 60

Multiple Choice

________ is a procedure that first assigns or determines a cluster center and then groups all objects within a pre-specified threshold value from the center.

• A) Divisive clustering
• B) Non-hierarchical clustering
• C) Ward's method
• D) Agglomerative clustering

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Definitions:

Monopolist

A single supplier in a market that controls all the goods or services of a particular type, without any competitors.

AC

Stands for Average Cost, which is the total cost of production divided by the number of goods produced.

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, such as high startup costs or regulatory requirements.

Monopoly

a market structure characterized by a single seller who has exclusive control over a product or service, often leading to higher prices and less competition.