It's "code" for Particleboard.
Yes Get a "power planer"
Yes it is.
MDF uses a finer particle than particleboard. The result is a board that machines better ( more evenly) and has a nicer finish surface whereas particle board is used more in underlayment situations where the board will be hidden.
The price would depend on the amount of work, grade of particleboard, any preparation or finishing work required, and the difficulty of accessing the work area. The material costs will be about $19 for a sheet (3/4" x 4' x 8'). The costs to put in underlayment for a floor will be a whole lot different than (for example) installing it in an attic ceiling. A word to the wise: Never ever ever install particleboard where it may become wet, or will be continuously exposed to high humidity.
With great difficulty and not much use. Below the laminate there's particleboard, which is pretty much useless as a table surface.
Particleboard is the most practicle substrate to use as the base. The thickness and density of the board determines the overall quality. Particleboard is used to apply adhesive and then some type of laminate like wood veneer, formica or a film or plastic based product. Working with solid hardwoods is an option but is much more expensive.
Insulation
Masonite is a thin type of fibreboard/particleboard with one glossy side and one textured side. Use it on the outside of a house and you get masonite siding.
Sergio Serrano Velazquez has written: 'Risk management in particleboard production system design' -- subject(s): Simulation methods, Particle board
This category includes establishments primarily engaged in manufacturing machinery for sawmills, for making particleboard and similar products, and for otherwise working or producing wood products.
A veneer is a thin decorative cover that is applied to a wood surface or any other material. It is less than 3 millimeters in thickness, and glued onto flat panels of particleboard, fiberboard, or wood.