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While the Scientific Method Is Applicable to Studying Natural Sciences

question 141

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While the scientific method is applicable to studying natural sciences, it is not applicable to studying a nation's economy.

Distinguish selection biases and their impact on the internal and external validity of a study.
Understand the principle of utility and its application in resolving the water-diamond paradox.
Calculate marginal and total utility from given data.
Understand and apply the concept of consumer surplus.

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