Questions Which Allow Only a Few Alternative Way of Answering

question 16

Multiple Choice

Questions which allow only a few alternative way of answering is called ………..

• A)Open ended questions
• B)Unstructured questions
• C)Structural questions
• D)Dichotomous questions

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Definitions:

MR Curve

The marginal revenue curve, which shows how the revenue from selling one more unit of a good or service changes as the quantity sold changes.

Economic Losses

Occurs when a company's total costs exceed its total revenues, indicating that the business is not efficiently allocating its resources.

Economic Profits

Profits exceeding the opportunity costs of a company's resources, indicating it is generating returns beyond the next best alternative.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, in economic theory, representing the surplus generated by an entity in economic activities.