Which of the Following Increases External Validity

question 40

Multiple Choice

Which of the following increases external validity

• A) consistent measurement
• B) diverse participants
• C) careful study design
• D) strong ethical guidelines

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Definitions:

Maximize Profit

The process of increasing the difference between the cost of production and the revenue generated from sales to the highest possible level.

Short Run

A period during which at least one factor of production is fixed, limiting the ability to adjust to changing market conditions.

Production

The process of creating goods or services using labor, machinery, and raw materials.

Price Taker

A market participant that accepts prevailing market prices as given, without having the power to influence these prices.