Whenever I go to the grocery store, I always stop at Starbucks on the way home. Therefore, going to the grocery store causes me to go to Starbucks. This statement is an example of the
A. ceteris paribus fallacy.
B. fallacy of logic.
C. fallacy of inductive reasoning.
D. post hoc, ergo propter hoc fallacy.
Answer: D
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Slick Shades has a constant marginal cost of production equal to $40 and the distributors have a constant marginal cost of distribution equal to $20. If Slick Shades is producing the profit-maximizing number of sunglasses (in hundreds), what is the profit-maximizing wholesale price?
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) $110
B) $120
C) $140
D) $130
The entry of new firms into a monopolistically competitive market will make the demand curve faced by each monopolistic competitor less price elastic
a. True b. False Indicate whether the statement is true or false
A market with one buyer and one seller is a
A. Bilateral monopoly. B. Multiopoly. C. Bilateral monopsony. D. Multilayer monopoly.
The two primary markets for savers to get funds to borrowers are the ______.
a. commodities market and retail market b. precious metals market and currency market c. stock market and bond market d. real estate market and consumer goods market