Which of the Following Is an Advantage to the Use

question 12

Multiple Choice

Which of the following is an advantage to the use of survey methods?

• A)standardization
• B)high response rates
• C)nonsuitability to tabulation and statistical analysis
• D)unique answers for each respondent
• E)very low cost

---

Definitions:

Marginal Revenue

The enhanced earnings a business receives by selling one more unit of its goods or services.

Marginal Cost

The swell in overall financial outlay resulting from the crafting of an extra unit of a good or service.

Profit-Maximization

A business objective to achieve the highest possible profit through managing revenues and expenses, often central to the decisions made by firms.

Competitive Firms

Businesses operating in a market where they compete with others for customers, each with minimal influence over market prices.