Like an Area Chart,a(n)____________________ Chart Often Is Used to Illustrate

question 92

Short Answer

Like an area chart,a(n)____________________ chart often is used to illustrate changes in data over time.

---

Definitions:

Monopolistically Competitive

Pertaining to a market structure where many firms sell products that are differentiated from one another but can act as substitutes, thereby creating competition.

Average Total Cost

The aggregate expense of manufacturing (sum of constant and fluctuating costs) spread over the entire volume of goods produced.

Marginal Revenue

represents the extra revenue that an undertaking receives from selling one additional unit of a product or service.

Monopolistically Competitive

Describes a market structure where many companies sell products that are similar but not identical.