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To investigate whether or not sending text messages while driving impacts driving ability,we had 100 participants (50 men and 50 women) drive an obstacle course under one of the following conditions: 1) no texting while driving,2) sending five text messages while driving,or 3) sending 10 text messages while driving.We measured the accuracy with which the subjects drove the obstacle course from a scale of 1 to 10 (1 = poor and 10 = excellent) .Why is a control necessary in this experiment?
Nondiscriminating Monopolist
A monopolist that charges all consumers the same price for its product or service, regardless of the market segment.
Profit-Maximizing
The process or strategy of adjusting production and pricing to achieve the highest possible profit.
Socially Optimal Price
The price of a product that results in the most efficient allocation of an economy's resources and that is equal to the marginal cost of the product.
Marginal Cost
The expenses associated with creating an extra unit of a good or service.
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