A Sample of 300 Subscribers to a Particular Magazine Is

question 156

Multiple Choice

A sample of 300 subscribers to a particular magazine is selected from a population frame of 9,000 subscribers. If, upon examining the data, it is determined that no subscriber had been selected in the sample more than once

• A) the sample had to have been selected without replacement.
• B) the sample could not have been random.
• C) the sample had to have been selected with replacement.
• D) the sample may have been selected without replacement or with replacement.

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Definitions:

Market Power

The ability of a firm or group of firms to manipulate prices or output in a market.

Excess Capacity

The situation where a firm or an economy is producing less than its potential output, often indicating inefficiencies or a lack of demand.

Monopolistic Competition

A market structure characterized by many firms offering products that are similar but not perfect substitutes, allowing for some degree of market power.

Pure Competition

A market structure characterized by a large number of sellers and buyers, homogeneous products, and the ease of entering and exiting the market.