Research Participants Are Randomly Assigned to Different Groups in an Experiment

question 53

Multiple Choice

Research participants are randomly assigned to different groups in an experiment in order to

• A) minimize chances that participants in any group know each other.
• B) increase chances that participants are representative of people in general.
• C) minimize any differences between groups of participants.
• D) increase chances that the different groups have the same number of participants.

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Definitions:

Economic Profit

The profit a firm makes after subtracting both its explicit (direct) and implicit (indirect or opportunity) costs from its total revenues.

Short-Run Data

Information or statistics collected over a brief period, often used to make immediate decisions or analyze short-term economic trends.

Industry Demand

The total demand for the products or services offered by a particular industry, reflecting the combined demand of all consumers in the market.

Total Revenue

The entire amount of income generated by the sale of goods or services related to the company's primary operations.