Suppose You Are Going to Roll a Six-Sided Die 60

question 20

Multiple Choice

Suppose you are going to roll a six-sided die 60 times and record ,the proportion of times that an even number (2,4,or 6) is showing.Suppose you decide to roll the die 200 times instead of 60 times.How will this affect the center and spread of the sampling distribution of ?

• A)Both the center and the spread will remain the same.
• B)The center will remain the same,but the spread will increase.
• C)The center will remain the same,but the spread will decrease.
• D)Both the center and the spread will decrease.

Distinguish between the economic outcomes of setting prices at marginal cost versus average cost for natural monopolies.

Understand the relationship between economies of scale, natural monopolies, and market regulation.

Describe how price discrimination practices can be enabled by data collection and the implications for market efficiency and consumer welfare.

Discuss the historical context and implications of monopoly practices, including government-granted monopolies.

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Definitions:

Title

A legal term referring to a rightful ownership of property, assets, or the evidence thereof.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that establishes a uniform international sales law.

Contract Of Sales

A legal agreement between a buyer and a seller for the exchange of goods, services, or property for payment or promise of payment.

Merchant

An individual or business engaged in the selling of goods, especially on a large scale or with specialized knowledge.