The Principle That the Opportunity Cost Increases as the Production

question 100

Multiple Choice

The principle that the opportunity cost increases as the production of one output expands along the production possibilities curve is the:

• A) law of increasing opportunity costs.
• B) law of demand.
• C) law of supply.
• D) law of diminishing returns.

Understand the concept of simple random sampling and its importance in statistical inference.

Calculate the standard error for sample proportions.

Determine minimum required sample sizes to meet specified margin of error criteria.

Perform hypothesis testing on population proportions.

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Definitions:

Independent Variable

In an experiment, the variable that is manipulated or changed by the researcher to observe its effects on the dependent variable.

Dependent Variable

In research, the outcome factor that researchers measure to examine the effect of one or more independent variables.

Convenience Sample

A non-random selection of participants based on their availability and willingness to take part, not representative of the general population.

Representative Sample

A sample that closely mirrors the characteristics of the population from which it is drawn, ensuring the results of a study can be generalized.