Sally Bought a Used Computer from Polly for $300

question 28

Essay

Sally bought a used computer from Polly for $300.Polly told her that the price seemed fair but that she really had no idea what it was worth and just wanted to get rid of it.Sally,who knew little about computers,thought she had a great deal.After Sally returned home,she discovered from a computer expert friend of hers that the computer was not worth as much as she believed.Sally wanted to return the computer claiming that they were both mistaken about value,but Polly said,"No way!" Who should win in the dispute between Sally and Polly and why?

Differentiate between types of nonequivalent groups designs based on their interpretability.

Understand methods to mitigate historical threats to internal validity in time-series designs.

Understand the significance of treatment intervention points in time-series designs.

Recognize the importance of random assignment in experimental designs to control threats to internal validity.

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Definitions:

Short-Run Supply Curve

A graphical representation that shows the quantity of goods a firm is willing and able to produce and sell at different price levels over a short period, not allowing for all factors of production to vary.

MC Curve

The Marginal Cost curve, which shows the increase in total cost that arises from producing one more unit of a good or service.

Short-Run Supply Schedule

A graphical or tabular representation of the quantity of goods a firm is willing and able to supply at different price points, over a short period.

Total Profit

The net amount of money a business retains after subtracting all its expenses, taxes, and costs from its total revenue.