When Researchers Use Data That Have Been Collected by the U.S.Census

question 9

Multiple Choice

When researchers use data that have been collected by the U.S.Census Bureau,stored at the ICPSR,or published in archival collections,they are using ______.

• A)primary data
• B)secondary data
• C)tertiary data
• D)nonempirical data

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Definitions:

Price Elasticity Of Demand

Percentage change in quantity demanded of a good resulting from a 1-percent increase in its price.

Marginal Revenue

The extra revenue received from the sale of an additional unit of a product or service.

Elasticity Of Demand

A metric reflecting how demand for a commodity reacts to price adjustments.

Profit-Maximizing Price

The price level at which a company can sell its product to maximize its profit, calculated by understanding demand and cost structures.