(Figure: Interpreting Market Equilibrium) If the Price Is $20, Then

question 5

Multiple Choice

(Figure: Interpreting Market Equilibrium) If the price is $20, then there is a _____ units and the price will _____.

• A) shortage of 4,000; fall
• B) shortage of 2,000; rise
• C) surplus of 4,000; fall
• D) surplus of 2,000; fall

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Definitions:

Probability Sample

In a probability sample, the units have a known and nonzero chance of being selected.

Representative Sample

A subset of a population that accurately reflects the members of the entire population.

Self-administered Questionnaires

Surveys or questionnaires that individuals complete on their own without interviewer guidance or interference.

Face-to-face Interviews

A method of quantitative or qualitative research where questions are asked directly to respondents in person, facilitating immediate and personalized responses.