A Researcher Is Studying the Effect of Including a Bonus

question 13

Multiple Choice

A researcher is studying the effect of including a bonus product on people's tendency to purchase personal care items (e.g., shampoo, deodorant, etc.) . The researcher randomly assigns male and female consumers to be asked to buy the product with the bonus or to be asked to buy the product without the bonus. The researcher then calculates the proportion of people in each condition that purchase the product. The independent variable in this study is:

• A) the proportion of people that purchase the product.
• B) personal care items.
• C) gender.
• D) the presence or absence of a bonus.

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Definitions:

Equilibrium

A state in which market supply and demand balance each other, leading to price stability for a particular good or service.

Efficiency

The optimum allocation of resources to achieve the best possible output or outcome with minimal waste or inefficiency.

Equality

A state or condition of being equal, especially in status, rights, and opportunities.

Total Surplus

The sum of consumer and producer surplus, representing the total benefit to society from a market transaction.