Alan Bissell,market Analyst for City Sound Mart,is Analyzing the Relation

question 55

Multiple Choice

Alan Bissell,market analyst for City Sound Mart,is analyzing the relation between heavy metal CD sales and the size of the teenage population.He gathers data from six sales districts.Alan's dependent variable is annual heavy metal CD sales (in $1,000,000's) ,and his independent variable is teenage population (in 1,000's) .Regression analysis of the data yielded the following tables: Alan's sample size is ___.

• A)2
• B)4
• C)6
• D)8
• E)10

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Definitions:

Productive Efficiency

A state in which the economy or an economic system is able to produce maximum output from a given set of inputs without wasting resources.

Marginal Cost

The price involved in producing one more unit of a product or service.

Marginal Revenue

The additional revenue that is gained by selling one more unit of a product.

Deadweight Losses

Economic inefficiencies that occur when market equilibrium is disrupted, leading to a loss of economic welfare.