As N Gets Larger, the Sampling Distribution of Becomes

question 115

Short Answer

As n gets larger, the sampling distribution of becomes increasingly bell shaped. This phenomenon is due to the ____________________.

---

Definitions:

Average Total Cost

The per-unit cost of production, obtained by dividing total costs by the total quantity of goods or services produced.

Marginal Cost

The expenditure for assembling another unit of a product or service.

Short-Run Equilibrium

A state in which market supply and demand balance each other, and as a result, prices become stable for a short period.

Constant Returns

A situation in economics where increasing the scale of production does not affect the long-run average cost of production, implying it remains constant.