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Figure 8-4
The vertical distance between points A and B represents a tax in the market.
-Refer to Figure 8-4.The equilibrium price before the tax is imposed is
Standard Deviation
Indicates how much the individual data points in a data set generally deviate from the mean of the data.
Mean
The mean of a collection of numbers, found by summing all the numbers and then dividing by the total number of values.
Standard Deviation
An indicator of the degree of unevenness or spread among values in a statistical set.
Mean
The average value of a set of numbers, calculated by dividing the sum of all the values by the number of values.
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