Pivot Tables

question 97

Multiple Choice

Pivot tables:

• A)are similar in purpose to simple 2D pie charts.
• B)show how the data "pivot" around a point.
• C)show cross-tabulations of data.
• D)are not really tables at all.

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Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the number of units produced.

Long-Run Adjustments

Refers to changes that firms in an industry make in response to economic opportunities or constraints, involving adjustments in production capacity or resource utilization over time.

Marginal Revenue

The extra revenue obtained by selling an additional unit of a product or service.

Upsloping Line

A graphical representation indicating positive correlation between two variables; as one variable increases, so does the other.