What Is One of the Major Disadvantages of Using Existing

question 27

Multiple Choice

What is one of the major disadvantages of using existing statistics compared to other quantitative forms of data collection?

• A)The sample is often limited to university undergraduates.
• B)Interviewer effect can be an issue.
• C)A fairly limited range of research questions can be addressed with this technique.
• D)It can take the researcher a considerable amount of time to become acquainted with the data.
• E)The conditions under which the research and data gathering take place are often artificial.

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Definitions:

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Output

The total amount of goods or services produced by a company, industry, or economy within a specific period.

Labor

The human effort, including physical and mental efforts, used in the production of goods and services.

Average Total Cost Curve

A graphical representation showing a firm's total costs divided by output at various levels of production.