A Controlled Experiment Is One in Which

question 59

Multiple Choice

A controlled experiment is one in which

• A) the experiment is repeated many times to ensure that the results are accurate.
• B) the experiment proceeds at a slow pace to guarantee that the scientist can carefully observe all reactions and process all experimental data.
• C) there are at least two groups, one of which does not receive the experimental treatment.
• D) there are at least two groups, one differing from the other by two or more variables.
• E) there is one group for which the scientist controls all variables.

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, homogenous products, and free entry and exit, leading to price determination by supply and demand.

Pure Monopoly

A market structure in which one firm sells a unique product, into which entry is blocked, in which the single firm has considerable control over product price, and in which nonprice competition may or may not be found.

Entry Barriers

Obstacles that make it difficult for new competitors to enter an industry, including high startup costs, access to technology, and strict regulations.

Monopolistic Competition

A market structure in which many companies sell products that are similar but not identical, allowing them to have a degree of market power.