The ________ Method Is Equivalent to a Lottery System in Which

question 43

Multiple Choice

The ________ method is equivalent to a lottery system in which names are placed in a container,the container is shaken,and the names of the winners are then drawn out in an unbiased manner.

• A)nonprobability sampling
• B)systematic sampling
• C)simple random sampling
• D)stratified sampling

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Definitions:

Competitive Level

Refers to the state of competition within a market where firms strive to gain an advantage over each other.

Marginal Cost

The added cost of producing one additional unit of a product.

Monopsony

Monopsony describes a market situation in which a single buyer substantially controls the market as the major purchaser of goods and services.

Competitive Price

The price of a product or service determined by the supply and demand within a competitive market, ensuring no significant profit or loss.