Involves Selecting Items from a Population So That Every Subset

question 28

Multiple Choice

involves selecting items from a population so that every subset of a given size has an equal chance of being selected.

• A) Convenience sampling
• B) Subjective sampling
• C) Judgment sampling
• D) Simple random sampling

---

Definitions:

Monopolistically Competitive

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and price-setting ability.

Short Run

A period during which at least one factor of production is considered fixed, limiting the capacity to adjust production levels.

Continue to Operate

A business decision to keep running the operations despite challenges or low profitability in the short term.

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent or salaries.