Scientists Are Trained to Carefully Observe and Record Any Research

question 3

Multiple Choice

Scientists are trained to carefully observe and record any research outcomes that are inconsistent with their hypotheses. This practice most directly serves to reduce

• A) the framing effect.
• B) process simulation.
• C) confirmation bias.
• D) algorithms.

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Definitions:

Profit-Maximizing

Refers to the process or strategy by which a firm selects outputs at which its profits are maximized, achieved by equating marginal revenues to marginal costs.

Marginal Cost

The cost of producing one more unit of a good or service.

Socially Efficient

A condition where resources are allocated in a way that maximizes the overall benefit to society, taking into account all costs and benefits.

Marginal Cost

The additional cost incurred by producing one more unit of a good or service.