Which of the Following Is Not a Reason for Selecting

question 166

Multiple Choice

Which of the following is not a reason for selecting a sample?

• A) A sample is less time consuming than a census.
• B) A sample is less costly to administer than a census.
• C) A sample is usually not a good representation of the target population.
• D) A sample is less cumbersome and more practical to administer.

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Definitions:

Perfectly Price Discriminate

A theoretical pricing strategy where a seller charges the maximum possible price for each unit sold, capturing the entire consumer surplus.

Monopolist

A market player that is the sole provider of a particular good or service, possessing significant market power to influence prices and output levels.

Diamonds

A precious gemstone made of carbon, often used in jewelry for its brilliance and durability.

Sole Supplier

A market situation in which only one company provides a particular product or service, potentially leading to monopoly power and less competitive prices.