Examlex
Bai is conducting a study on learning. When she manipulates an independent variable, it is possible that some other factor, like noise in the hall, can affect learning in one of the groups but not in the other. This possibility reflects the presence of:
Wedge
The difference between the demand price of the quantity transacted and the supply price of the quantity transacted for a good when the supply of the good is legally restricted. Often created by a quantity control, or quota.
Demand Price
The price of a given quantity at which consumers will demand that quantity.
Perfectly Inelastic
A market situation where the quantity demanded or supplied does not change in response to a change in price.
Deadweight Loss
The inefficiency caused in a market where all potential gains from trade are not realized due to factors like taxes or subsidies.
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