John Was Called by a Market Researcher and Asked a Few

question 75

Multiple Choice

John was called by a market researcher and asked a few questions about his television viewing habits.The researcher then asked him to go to a Web site to complete a more comprehensive survey.This type of study that employs a combination of survey methods is called a:

• A)two-stage survey
• B)pre- and posttest
• C)multi-media survey
• D)mixed-mode survey

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Definitions:

Minimum Return

The lowest expected or required return on an investment over a specified period.

Long Run

A period of time in which all factors of production and costs are variable, allowing for all adjustments to take place in the analysis of economic conditions.

Average Variable Cost

The total variable costs of production divided by the quantity of output produced.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.