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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:
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
What is inflation gap
Problem 1: The last half-century has witnessed major changes in the role that governments of developing countries have played, especially in terms of public spending. (a) Ex
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded.
1. Cost minimizing firms must be profit maximizing as well. False, why??
Q. Level of aggregate demand in economy? Demand-pull inflation takes place when there is an increase in level of aggregate demand in economy. Aggregate demand comprises five co
identify which curve (demand or supply) will be affected?
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
China had to convert its yuan into dollars. Does that cause the dollar to appreciate or depreciate?
what makes it differ from other market structures
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