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If the Cost of Producing Sofas Decreases,then Consumer Surplus in the Sofa

question 63

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If the cost of producing sofas decreases,then consumer surplus in the sofa market will


Definitions:

Interval

A type of variable measurement scale that represents ordered categories with equal distances between adjacent categories but no true zero point.

Ratio

A quantitative relationship between two numbers showing how many times the first number contains the second.

Pie Chart

A circular statistical graphic which is divided into slices to illustrate numerical proportion.

Frequency Polygon

A graphical device for understanding the shapes of distributions. They are a type of line graph.

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