Which of the Following Statements Is True of a Focus

question 44

Multiple Choice

Which of the following statements is true of a focus group?

• A) A focus group is designed to yield an exploratory and depth-probing type of discussion.
• B) A focus group is often very difficult to set up and is the most expensive method of gathering information.
• C) A focus group makes it difficult for a person to talk about his or her problems when others in the group have already admitted they have problems too.
• D) A focus group, unlike the traditional survey, depends on the power of numbers rather than in-depth discussions.

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Definitions:

Elastic

Describes the responsiveness of demand or supply to changes in price or income.

Free Entry

A market condition where there are no barriers or restrictions preventing new competitors from joining the market.

Long-Run Profits

Long-Run Profits refer to the sustained earnings a firm can achieve over time, considering all input costs are variable and market conditions may change.

Fixed Costs

Costs that do not vary with the quantity of output produced