How Can It Be Determined If an Experiment Is Valid

question 31

Multiple Choice

How can it be determined if an experiment is valid?

• A)The observed change in the dependent variable is in fact due to the independent variable.
• B)The results of the experiment apply to the real world outside the experimental setting.
• C)The results do not account for the effects of extraneous variables.
• D)The results are reported in well-known news media.
• E)A and B are correct.

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Definitions:

Elastic

Describes a situation in which the supply or demand for a good or service is highly responsive to changes in price.

Excess Capacity

A situation where a firm is producing at a level less than its maximum possible output, leading to unused resources.

Equilibrium Level

The equilibrium level is a state where supply and demand balance each other, and market forces such as price remain stable.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power.