Disadvantages of experiments include the fact that:
A. decisions made in the laboratory replicate those made in the real world.
B. laboratory experiments introduce influences on decision making that are difficult to measure or control.
C. the number of subjects is typically so large, that it is difficult to apply the results to economic behavior in the population.
D. decisions made in the laboratory replicate those made in the real world and the number of subjects is typically so large, that it is difficult to apply the results to economic behavior in the population.
B. laboratory experiments introduce influences on decision making that are difficult to measure or control.
You might also like to view...
Does this production function, q = 10L0.5K0.3, experience increasing, decreasing or constant returns to scale?
A) Decreasing because a 100% increase in inputs increases outputs by 80%. B) Increasing because an 80% increase in inputs increases outputs by 100%. C) Decreasing because 0.5 + 0.3 < 1. D) A and C.
Explain the menu cost explanation of output fluctuations
What will be an ideal response?