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Deviation
- Difference between the expected and actual payoff
- Adjusting for the negative numbers
- The standard deviation measures square root of average of squares of the deviations of the payoffs associated with every outcome from their expected value.
- The standard deviation can be given by:
Lovers of classical music persuade Congress to impose a price ceiling of $40 per concert ticket.
(a) Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b) The competitive equilibrium is the only allocation where the gain
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Output 0 Fixed cost $100 Varaible Cost 40 what is the Total cost and Total revenue also the Profit/Loss
please may you explain this concept
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how to draw a table of the demand and supply scdule
Explain why subsidies to domestic firms act as a trade barrier. A trade barrier is broadly explained as any market intervention whereby the ratio of price of exports to price o
Solution of this case study
illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine
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