Graph 22-7 -Refer to Graph 22-7. Assume That the Consumer Depicted in the Consumer

question 70

Multiple Choice

Graph 22-7

-Refer to Graph 22-7. Assume that the consumer depicted in the graph has an income of $10. The price of Skittles is $1 and the price of M&Ms is $2. This consumer will choose to optimise by consuming:

• A) bundle A
• B) bundle B
• C) bundle C
• D) bundle D

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Definitions:

External Validity

The extent to which the results of a study can be generalized to other situations and to other people.

Quasi-Experiment

A research design that lacks the full control of true experimental designs but employs some method of making causal inferences from observed changes.

Correlational Study

A research method that examines the relationship between two variables to determine if a statistical relationship exists.

External Validity

The degree to which the findings of a research can be applied to different settings and different individuals.