Which of the Following Is the Most Desirable Characteristic of a Probability

question 56

Multiple Choice

Which of the following is the most desirable characteristic of a probability sample?

• A) The results of a probability sample can be generalized to the larger population.
• B) There's no attempt to get a representative cross section of the population in a probability sample.
• C) A sampling criterion is used in the probability sampling approach.
• D) A probability sample is useful when sociologists are exploring a new topic.
• E) A probability sample is not considered as a representative of a population.

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Definitions:

Perfect Price Discrimination

A pricing strategy where a seller charges the highest price that each consumer is willing to pay, effectively capturing all consumer surplus as profit.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, a measure of producers' benefit.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit, essentially the cost of producing one additional unit of a good or service.

Total Revenue

The total amount of money a firm receives from the sale of its goods and services, calculated as the price per unit times the number of units sold.