Instruction 2-17
the Table Below Contains the Number of People

question 111

Short Answer

Instruction 2-17
The table below contains the number of people who own a portable DVD player in a sample of 600 broken down by gender.
$$\begin{array}{l}\text { Own a Portable }\\\begin{array} { l c c } \text { DVD Player } & \text { Male } & \text { Female } \\\hline \text { Yes } & 96 & 40 \\\text { No } & 224 & 240 \\\hline\end{array}\end{array}$$
-Referring to Instruction 2-17,________ percent of the 600 did not own a portable DVD.

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Definitions:

Market Equilibrium

The state in which the supply and demand for a good or service are balanced, leading to a stable price.

Consumer Surplus

The variance between the total price consumers are ready and able to fork over for a good or service and the sum they ultimately pay.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually do pay.