Use Critical Thinking to Address the Key Issue

question 11

Short Answer

Use critical thinking to address the key issue.
-"7 out of 10 dentists recommend Brand X toothpaste". This finding is based on the results of a survey of 10 randomly selected dentists. What is wrong with this survey?

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Definitions:

Positive Externality

A benefit that is enjoyed by a third-party as a result of an economic transaction, without them necessarily being involved in the transaction.

Marginal Social Benefit

Sum of the marginal private benefit plus the marginal external benefit.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded.

Abatement

The reduction or removal of environmental pollutants or negative externalities to improve environmental quality.