A Major Disadvantage of Observational Research Is That

question 6

Multiple Choice

A major disadvantage of observational research is that

• A) standardized observational instruments are not very reliable
• B) only overt behaviors can be observed
• C) observers may make biased reports
• D) the presence of the observer may affect the behavior that is to be observed

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Definitions:

Imperfect Competition

A market structure in which no firm is a monopolist, but producers nonetheless have market power they can use to affect market prices.

Oligopoly

A market structure characterized by a small number of firms controlling a large majority of the market share.

Quantity Effect

The impact on total revenue when the quantity sold changes while the price remains the same.

Marginal Cost

The increased expenditure resulting from making an additional unit of a product or service.