A Local Government Group Recently Conducted a Survey to Ask

question 103

Multiple Choice

A local government group recently conducted a survey to ask those living in the community if they would like to see a new pool facility built. The survey asked the following six questions:
1. Do you live in the community defined by zip codes 16801,16802, 16803 or 16804? Y_______ N_______
2. Do you currently own a membership to any community or private swimming pools? Y_______ N_______
3. How many people live at your residence.
1_______ 2_________ 3-6_________ 6+___________
4. Please indicate the combined annual income of the members of your residence in thousands of dollars. $__________________
Given the following scale answer questions 5 and 6.
1=Strongly Disagree, 2=Disagree, 3 =Neutral, 4=Agree, 5=Strongly Agree
5. Our community should build a new indoor pool facility. 1 2 3 4 5
6. I support spending tax dollars for recreational opportunities. 1 2 3 4 5
-Given the above survey, Item 1 data would represent ________ level data.

• A) nominal
• B) ordinal
• C) interval
• D) ratio

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Definitions:

Oligopolistic

Oligopolistic refers to a market structure characterized by a small number of large firms dominating the market, leading to limited competition.

Marginal Cost

The extra expense derived from the production of an additional unit of a product or service.

Perfectly Competitive

A market structure characterized by a large number of firms selling identical products, with no single firm able to influence the market price.

Oligopolistic

Describes a market structure in which a few firms dominate the industry, leading to limited competition.