________ Is a Comparative Scaling Technique in Which Respondents Are

question 51

Multiple Choice

________ is a comparative scaling technique in which respondents are required to allocate a constant sum of units such as point,dollars,chits,stickers,or chips among a set of stimulus objects with respect to some criterion.

• A)Constant sum
• B)Q-sort
• C)Paired comparison
• D)Rank order

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Definitions:

Economic Loss

A loss in financial terms representing the difference between the market value and the cost of production.

Perfect Competitor

A market participant that cannot influence the market price and must take it as given because the market is perfectly competitive.

Short Run

A period in economic theory during which at least one input, such as plant size or the number of firms in the industry, is fixed and cannot be changed.

Perfect Competitor

A theoretical market structure in which many firms sell an identical product, and no single buyer or seller can influence the market price.