You Are Reading About an Experiment

question 24

Multiple Choice

You are reading about an experiment.What feature is necessary to give you confidence that there is a cause-effect relationship between the independent and dependent variables?

• A) random assignment
• B) case studies
• C) random sampling
• D) statistical significance

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Definitions:

Larger Profits

An increase in the surplus remaining after total costs are deducted from total revenue, indicating greater financial success for a business.

Variable Costs

Costs that vary with the quantity of output produced.

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the per-unit production cost.

Rising Prices

A situation where the general level of prices for goods and services in an economy increases over a period of time.