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The Best Way to Deal with Respondents Not Knowing the Answer

question 32

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The best way to deal with respondents not knowing the answer to a question is


Definitions:

Opportunity Cost

The financial impact of rejecting the nearest superior alternative when deciding.

Box

A container, often square or rectangular, used for storage or shipping.

Consumer Surplus

Consumer surplus is the difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.

Producer Surplus

The difference between what producers are willing to accept for a product because of its cost of production and what they actually receive (the market price).

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