The List of Elements in a Population from Which the Sample

question 33

Multiple Choice

The list of elements in a population from which the sample is actually drawn is known as the _____.

• A) sampling frame
• B) population extent
• C) database
• D) sampling base
• E) population directory

---

Definitions:

Average Variable Cost

The total variable costs of production divided by the quantity of output produced, indicating the cost of producing each additional unit.

Marginal Cost

The add-on cost for the production of an extra unit of a good or service.

Average Fixed Cost

The division of production's unchanging costs, unaffected by output volume, by the total quantity of produce generated.

Profit-maximizing Output

Profit-maximizing Output is the level of production at which a business achieves the highest possible profit, determined by analyzing costs and revenues to find the most efficient production level.