A Disadvantage of Collecting Primary Data Is That It Is

question 100

Multiple Choice

A disadvantage of collecting primary data is that it is

• A) not available freely.
• B) difficult to interpret.
• C) usually outdated.
• D) overly quantitative.
• E) typically expensive.

---

Definitions:

ATC

Average Total Cost, which is the total cost divided by the quantity of output produced. It represents the per-unit production cost at various levels of output.

Earning A Profit

The financial gain realized when the total revenues generated from a business activity exceed the total costs associated with that activity.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Monopolistically Competitive

A market structure characterized by many firms selling products that are similar but not identical, leading to competition based on product differentiation.