Economists Usually Assume That All Consumers Have the Same Tastes

question 92

True/False

Economists usually assume that all consumers have the same tastes and preferences.

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Definitions:

Sampling Distribution

A sampling distribution is a probability distribution of a statistic obtained through a large number of samples drawn from a specific population, used to infer properties of the population.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, showing how much each value in the set varies from the mean.

Sampling Distribution

The probability distribution of a given random-sample-based statistic.

Sampling Distribution

A statistical distribution of all possible samples of a given size taken from a population.