The Variable Which Is Manipulated in an Experiment Is Known

question 53

Multiple Choice

The variable which is manipulated in an experiment is known as the

• A) dependent variable.
• B) independent variable.
• C) control variable.
• D) random variable.

---

Definitions:

Monopolistic Competition

A trading environment where countless firms peddle products that bear resemblance but are not exact duplicates, offering them a fragment of control in the marketplace.

Pure Monopoly

A market structure where a single firm controls the entire market for a product or service, with no close substitutes and significant barriers to entry.

Allocatively Inefficient

A situation where resources are not distributed in a way that maximizes the benefits to society, often leading to a loss of economic welfare.

Marginal Benefit

The additional satisfaction or utility gained from receiving or consuming one more unit of a good or service.