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The loss associated with the fact that at the profit-maximizing quantity consumers value the goods more than it cost to produce them is called
Convergent Validity
The degree to which two measures that theoretically should be related are actually related.
Discriminant Validity
The degree to which a concept or measurement is not associated with other concepts or measurements it's supposed to be unrelated to.
Predictive Validity
The extent to which a test, measurement, or tool can accurately forecast or predict a specific outcome.
Face Validity
Refers to the extent to which a test appears to measure what it is intended to measure, based purely on its surface characteristics.
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