Kim and Mary Are Both Participating in an Experiment Examining

question 10

Multiple Choice

Kim and Mary are both participating in an experiment examining the effect of adding graphic warning labels on cigarette packages to the written warning labels that are already required by law. Kim saw a package in which half of the package had a picture of diseased lungs included with the written warning label, whereas Mary only saw the written warning label without a picture on the package the researcher showed her. Kim was part of which group in the experiment?

• A) primary group
• B) covariate group
• C) experimental group
• D) control group

Understand the impact of input price changes on the supply curve and market prices.

Identify how changes in substitute goods' prices affect market demand and equilibrium.

Analyze the effects of weather conditions on the demand for seasonal products.

Recognize the role of consumer and producer surplus in market transactions.