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A Version of Cluster Sampling in Which the Elements Are

question 9

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A version of cluster sampling in which the elements are formed into clusters on the basis of their geographic proximity is _____ sampling.


Definitions:

Monopolistic Competition

A market structure characterized by many sellers offering differentiated products or services, allowing for some degree of market power and price control.

Economic Profits

Profits earned by a firm after accounting for both explicit and implicit costs.

Monopolistically Competitive

A market structure characterized by many firms selling products that are similar but not identical, allowing for limited control over market prices.

Short-run Equilibrium

A state in which supply and demand are balanced at a given price level within a short time frame, before all factors become variable.

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