Determine the Sampling Technique Which Is Used

question 12

Multiple Choice

Determine the sampling technique which is used
-A lobbyist for the oil industry assigns a number to each senator and then uses a computer to randomly generate ten numbers. The lobbyist contacts the senators corresponding to these numbers. What sampling technique was used

• A) random
• B) convenience
• C) cluster
• D) stratified
• E) systematic

Describe how exclusive rights and ownership contribute to monopoly power.

Explain the constraints on monopolists' profit-making capabilities.

Understand the effects of monopolistic production choices on revenue and profit maximization.

Learn the regulatory and economic frameworks surrounding monopolies, including copyrights, patents, and government interventions.

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Definitions:

Brand Competitors

Companies that offer similar products or services and compete in the same market segment for consumer attention and sales.

Malcolm Baldrige National Quality Award

An award given by the U.S. government to recognize U.S. organizations for their achievements in quality and performance excellence.

Discontinuous Objectives

Goals that require a significant shift or change in organizational strategy or behavior, often leading to transformative outcomes.

Competitive Environments

The dynamic external system in which businesses compete for resources, customers, and market position.