If a Researcher Walks into a Bus Station and Starts

question 50

Multiple Choice

If a researcher walks into a bus station and starts interviewing people at random for his research,he is most likely using

• A)quota sampling.
• B)judgmental sampling.
• C)convenience sampling.
• D)None of these answers are correct.

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Definitions:

Profit-maximizing Firm

A company operated with the primary goal of making the highest possible profit, typically by adjusting outputs, prices, or inputs.

Theory of Profit-maximizing

A principle that suggests firms aim to achieve the highest possible profits by adjusting production levels, prices, or other variables.

Decreasing Returns To Scale

A situation where increasing the inputs proportionately results in less proportionate increases in output.

Profit-maximizing Output

The level of production at which a company achieves the highest possible profit, determined by the point where marginal revenue equals marginal cost.