Final answer:
The correct option is A). A scatter plot is a graphical tool that showcases a nonmonotonic relationship between two variables. It differs from a line graph, which is more suited for variables that change in a consistent manner over time, and provides flexibility for displaying non-linear relationships.
Step-by-step explanation:
A handy graphical tool that illustrates a nonmonotonic relationship by accommodating two variables simultaneously is a scatter plot. A scatter plot is particularly useful when you want to show the relationship between any two properties of a system graphically. This type of graph includes a horizontal axis (x-axis) for the independent variable and a vertical axis (y-axis) for the dependent variable. Unlike a line graph, which is effective for illustrating the relationship between two variables that change over time like in a time series, a scatter plot can show a wide variety of relationships, including non-linear ones where the variables do not change at a constant rate or in a single direction.
Economic models and other types of data can be represented using different types of graphs. A bar graph might use the height of bars to represent the relationship between entities, while a pie graph shows how a whole is divided into parts. These are all tools used to visualize data, making it easier to identify trends, comparisons, and patterns.