Closed-Response Questions

question 59

Multiple Choice

Closed-response questions

• A)do not require the researcher to do exploratory work.
• B)are harder to answer, both in an interview and in a mail survey, than are open-ended questions.
• C)provide answers that are directly comparable from respondent to respondent.
• D)make tabulation and analysis more difficult in comparison to open-ended questions.
• E)none of the above.

---

Definitions:

Profit-maximizing

The process or strategy of adjusting production and prices to achieve the highest possible profit, taking into account costs and market demand.

Marginal Product

The additional output that results from using one more unit of a particular input, holding all other inputs constant.

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee, especially to manual or unskilled workers.

Diminishing Returns

A principle stating that adding an additional factor of production results in smaller increases in output.