______ Refers to the Generalizability of Results to Other Person's

question 22

Multiple Choice

______ refers to the generalizability of results to other person's.

• A) Internal validity
• B) External validity
• C) Statistical conclusion validity
• D) Ecological validity

---

Definitions:

Output Cost

The total expenses incurred in the process of producing goods or services, including both fixed and variable costs.

Long-Run Total Cost

The aggregate cost of production when all factors of production, including capital and labor, are variable in the long term.

Profits Maximization

The process or strategy employed by a business to increase its net earnings and achieve the highest level of profit possible.

Price Received

The amount of money paid to a producer or seller for a product or service.