What Is the Median of 26,30,24,32,32,31,27,and 29

question 5

Multiple Choice

What is the median of 26,30,24,32,32,31,27,and 29?

• A)32
• B)29
• C)30
• D)29.5

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service versus what they actually receive.

Allocative Efficiency

A state of resource distribution where it is impossible to make any one individual better off without making someone else worse off.

Productive Efficiency

A situation in which an economy or entity is producing goods and services at the lowest possible cost, utilizing all its resources efficiently.