Two Economists from Northwestern University Estimated the Benefit Households Received

question 91

Multiple Choice

Two economists from Northwestern University estimated the benefit households received from subscribing to broadband Internet service.The economists found that

• A)the consumer surplus from dial-up Internet service exceeded the consumer surplus from broadband Internet service.
• B)the average consumer of broadband Internet service received a marginal benefit equal to $36.
• C)most consumers of broadband Internet service were not willing to pay more than $36 per month.
• D)one month's benefit to consumers who subscribe to broadband Internet service is about $890 million.

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Definitions:

Informed Consent

A legal and ethical requirement ensuring individuals are fully aware of and understand the potential risks and benefits before agreeing to undergo a medical procedure or participate in a research study.

Internal Validity

The extent to which a study accurately demonstrates a cause-and-effect relationship between variables.

External Validity

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

Individualized Approach

A method tailored to meet the unique needs of an individual, considering their personal circumstances, preferences, and characteristics.