Cluster Sampling Can Be Useful When ______

question 73

Multiple Choice

Cluster sampling can be useful when ______.

• A) a sampling frame is not available
• B) the population is spread across a narrow geographic area
• C) sampling procedures are not complex
• D) elements within the population do not have a known probability

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.

Market Entry

The process by which a firm enters into a new market to compete and offer goods or services.

Price Falls

A decrease in the monetary value or market price of goods, services, or assets.

Producer Surplus

the difference between what producers are willing to accept for a good or service versus what they actually receive, due to higher market prices.