In Simple Random Sampling ________

question 71

Multiple Choice

In simple random sampling ________.

• A)every subset has an equal chance of being selected
• B)sampling is taken from the most easily available segments of the population
• C)every n^th item is selected from the population
• D)weights are assigned to each value based on the probability that it will be included in the sample

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Definitions:

Output Effect

When the price of any resource rises, the cost of production rises, which, in turn, lowers the supply of the final product. When supply falls, price rises, consequently reducing output.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, holding all other factors constant.

Additional Revenue

Income gained from any additional unit of output or sale beyond the current level of production or service.

Rent

A payment made by tenants to landlords in exchange for the use of real estate, equipment, or other properties.