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You were told that the mean score on a statistics exam is 75 with the scores normally distributed.In addition,you know the probability of a score between 55 and 60 is 4.41% and that the probability of a score greater than 90 is 6.68%.The middle 86.64% of the students will score between which two scores?
Zero Economic Profits
Occurs when a firm earns just enough revenue to cover its total costs, including opportunity costs, but no more.
Efficiently
Performing or functioning in the best possible manner with the least waste of time and effort.
Economies of Scale
The cost advantage achieved by businesses when production becomes efficient, as the scale of operation increases leading to a reduction in average costs.
Positive Economic Profits
Earnings that exceed the total costs, including both the explicit and implicit costs of a business.
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