Arbitrary Sample Sizes Are Simple and Easy to Apply,but

question 44

Multiple Choice

Arbitrary sample sizes are simple and easy to apply,but:

• A)They tend to need a professional researcher to implement.
• B)They add more time for survey completion.
• C)They are neither efficient nor economical.
• D)Generally cannot be understood by marketing managers.

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Definitions:

Average Revenue

The revenue per unit of output sold, calculated by dividing total revenue by the number of units sold.

Marginal Revenue

The additional revenue that is gained from selling one more unit of a good or service.

Purely Competitive Firm

An enterprise that operates in a perfectly competitive market, where it is a price taker due to the homogeneity of products and the presence of many buyers and sellers.

Market Price

The market rate at which an asset or service can currently be acquired or disposed of.