Answer:
The advantages of using secondary data are several, but its main advantage is that it is the cheapest way to gather large sets of information. A lot of secondary data is available on the internet, so it is time saving. Using secondary data saves work, efforts and money.
We can also use secondary data to determine more specifically which primary data we need to gather, again saving resources.
<span>When producers would have been willing to accept lower prices at various quantities produced than the market clearing price, the differences are called?</span><span>
PRODUCER SURPLUSE</span>
$485 + $380 + $15 + $48 - $120 = $808
Have a great night!
