Answer the Question That Follows This SPSS Output

question 7

Multiple Choice

Answer the question that follows this SPSS output:
  The frequency table represents the responses of 1980 GSS middle-age adults when asked how happy they were in their marriage. Which of the following statements is correct?

• A) More than 25% of the respondents were not asked this question.
• B) Of those who answered this question, 49.1% said they were very happy.
• C) Of those who answered this question, 33.3% said they were pretty happy.
• D) There were 212 valid answers to this question

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Definitions:

Control Over Price

The ability of a person or organization to influence the price at which goods or services are sold.

Contestable Market

A market structure where there are no barriers to entry or exit, ensuring that prices remain competitive even in the absence of a large number of sellers.

Minimum-cost Production

A principle in economics where goods and services are produced at the lowest possible cost, maximizing efficiency and resource use.

Normal Profit Rate

Zero economic profit, providing just the competitive rate of return on the capital (and labor) of owners. An above-normal profit will draw more entry into the market, whereas a below-normal profit will lead to an exit of investors and capital.