The Two- Way Table Below Shows the Survey Results When

question 42

Multiple Choice

The two- way table below shows the survey results when sixty adults were asked whether they had made a clothing purchase in the last thirty days.

-What percentage of the sample had not made a clothing purchase in the past thirty days?

• A)35%
• B)50%
• C)65%
• D)33%

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Definitions:

Price

The expenditure needed to secure a product, service, or piece of property.

Price-discriminating Monopolist

A monopolist that sells the same product at different prices to different groups of consumers, usually to maximize profits by capturing consumer surplus.

Market

A place or mechanism through which buyers and sellers interact to trade goods, services, or assets, facilitating the determination of prices and the exchange of ownership.

Price Elasticity

An indicator of the sensitivity of consumer demand for a product to variations in its price, reflecting how significantly the amount of the product consumers want to buy alters with price adjustments.