What Type of Measurement Is the Following

question 58

Multiple Choice

What type of measurement is the following?
I would like to know your overall opinion of two brands of athletic shoes. They are Nike and New Balance. Overall,which of these two brands -- Nike or New Balance-- do you think is the better one? Or are both the same?
____ Nike is better
____ New Balance is better
____ They are about the same

• A) semantic differential
• B) Thurstone
• C) paired comparison
• D) constant-sum

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Definitions:

Economic Profits

The surplus remaining after deducting both the explicit and implicit costs from total revenues; represents extra earnings above the next best alternative.

Fair Return

The reasonable profit that a business can expect to make, considering the risk involved.

Pure Monopoly

A market structure where a single firm is the sole producer of a product or service with no close substitutes, giving it significant control over price.

Profit-maximizing Price

The price level at which a company can sell its product or service to maximize its profit, considering cost, demand, and competition.