Which of the Following Is an Example of Primary Data

question 27

Multiple Choice

Which of the following is an example of primary data?

• A)Annual data obtained from government data sources
• B)Data obtained from a marketing survey
• C)Huge data repositories in the Internet
• D)Research data obtained from historical business press

Critically assess the implications of a perfectly competitive market on consumer knowledge and budget constraints.

Understand how budget constraints are affected by changes in income and prices.

Comprehend the concept of marginal utility and how it varies with consumption.

Identify the impact of price changes on a household's choice set.

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Definitions:

Variable Input

Any resource used in production whose quantity can be changed in the short term to increase or decrease output, such as labor or raw materials.

Marginal Cost

The expenditure incurred from creating one more unit of a product or service.

Total Variable Cost

The total of expenses that vary directly with the level of production or output.

Marginal Cost

The increment in expense for generating an additional unit of a product or service.