What Is the Type of Sampling That Seeks a Representative

question 20

Multiple Choice

What is the type of sampling that seeks a representative sample using theories from mathematics called?

• A)Nonrandom sampling
• B)Quota sampling
• C)Probability sampling
• D)Deviant case sampling
• E)Theoretical sampling

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Definitions:

Long-run Equilibrium

A condition in the market where all firms in an industry are making zero economic profit, and there is an efficient allocation of resources.

Marginal Revenue

The additional income generated from selling one more unit of a product or service.

Marginal Cost

The rise in expense associated with manufacturing an extra unit of a product or service.

Shut Down

A short-term decision by a company to cease operations temporarily due to unfavorable market conditions or to minimize losses when variable costs exceed total revenues.