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Dr.Smith is instructing his graduate students to put together a sample for an upcoming research study of college students.The graduate students were asked to stand outside of the student union to solicit participants,finding 50 freshmen,50 sophomore,50 juniors,and 50 seniors.What sort of sampling method is being used?
Equilibrium Price
The price point in the market where the amount of goods being offered is equal to the amount being sought by consumers.
Monopoly Supply Curve
A theoretical concept indicating that a monopoly does not have a traditional supply curve because its output decision depends on the demand it faces and its cost structure.
Average Variable Costs
The total variable costs of production divided by the quantity of output produced.
Demand Changes
Variations in the desire or need for a product or service, influenced by factors like price, income levels, and consumer preferences.
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