_____ Technique Is the Term for the Type of Study

question 87

Multiple Choice

_____ technique is the term for the type of study in which the researcher becomes a part of the community being studied and thus observes it from the inside.

• A)Random survey
• B)Clinical observation
• C)Participant-observer
• D)Experimental

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Definitions:

Marginal Utility

The increased contentment or advantage obtained by the consumption of an extra unit of a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers from participating in the market.

Utility

Utility refers to the total satisfaction received from consuming a good or service.

Diminishing Utility

The principle that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.