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Suppose That a Biologist Took Water Samples at Random Intervals

question 10

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Suppose that a biologist took water samples at random intervals from a rapidly flowing creek to test for contaminants. A sample was taken at a single location from the center of the creek for one year. Could such a survey be depended on?


Definitions:

Least Possible Cost

The minimum expense required to achieve a particular economic objective.

General Equilibrium

A situation in which supply and demand are balanced across all markets in the economy.

Simultaneously Equilibrium

A condition in which demand and supply are balanced at the same time across multiple markets or within a complex system.

Capital Flow

The movement of money for the purpose of investment, trade, or business production between countries.

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