For a Binomial Distribution with P = 1/4 and a Mean

question 6

True/False

For a binomial distribution with p = 1/4 and a mean of m = 12,the standard deviation is s = 9.​

Understand the concept of a constant cost industry and its characteristics.

Explain the effects of short-run profit on market dynamics and long-run equilibrium in price-taker industries.

Analyze the impact of changes in demand and supply on market prices and output in the short and long run.

Describe the conditions for long-run equilibrium in price-taker markets and the concept of economic profit.