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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:
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
how a firm will choose its optimal inputs, isocosts and isoquants explanation
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