Scatter Diagrams Plot Volume (Units) on the Horizontal Axis and Cost

question 209

True/False

Scatter diagrams plot volume (units) on the horizontal axis and cost on the vertical axis.

---

Definitions:

Break-Even Point

The point at which total costs and total revenue are equal, resulting in no net loss or gain.

Output

The total amount of goods and services produced by an economy, company, or industry within a specific period.

Long-Run Supply Curve

A graphical representation showing the relationship between price and the quantity supplied that firms are willing to produce, given all inputs are variable.

Output

The cumulative quantity of products or services generated by a corporation, sector, or economic system.