For the Following Distribution: What Is the Variance of the Distribution

question 93

Multiple Choice

For the following distribution: What is the variance of the distribution?

• A)1.1616
• B)0.964
• C)0.982
• D)1.000

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Definitions:

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.

Persistent Shortage

A situation where the demand for a good or service consistently exceeds its supply, over a significant period of time.

Deadweight Loss

The loss of economic efficiency when the equilibrium for a good or a service is not achieved or is not achievable.