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In nonparametric statistics,the population must be normally distributed.
Rent-Controlled Apartment
A rental unit where the government controls the amount of rent charged to protect tenants from rapid increases.
Price Floor
A minimum price set by the government or a governing body below which a product cannot be sold legally.
Producer Surplus
The difference between the amount producers are willing to sell a good for and the amount they actually receive.
Price Ceiling
A government-imposed limit on how high a price is charged for a product, service, or commodity, intended to protect consumers from high prices.
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