Which of the Following Is Not an Advantage of Open

question 51

Multiple Choice

Which of the following is not an advantage of open questions?

• A)They can consume a significant portion of time.
• B)They let the respondent do the talking.
• C)They are usually easy to answer and pose little threat to the respondent.
• D)They may reveal the respondent's frames of reference.

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Definitions:

Explicit Costs

These are direct payments made to others in the course of running a business, such as wages, rent, and materials.

Implicit Costs

Costs that represent potential benefits foregone when resources are not utilized in their next-best alternative use.

Economic Profit

The financial gain achieved when revenues from business activity exceed the explicit and implicit costs of that activity.

Implicit Costs

Costs that represent the opportunity costs of using resources that the firm already owns, unlike explicit costs which involve direct monetary outlay.