Applying the analysis from the California test scores to another U.S. state is an example of looking for
A) simultaneous causality bias.
B) external validity.
C) sample selection bias.
D) internal validity.
Answer: B
Economics
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Describe the process by which the competitive market establishes a price at which all firms are just earning normal profits
What will be an ideal response?
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Splitting up a monopoly is often justified on the grounds that
a. consumers prefer dealing with small firms. b. small firms have lower costs. c. competition is inherently efficient. d. small firms produce higher quality products.
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For a monopolist, price
A. is greater than marginal revenue. B. equals marginal revenue at all output levels. C. is less than marginal revenue. D. can be greater than or less than marginal revenue.
Economics