Describe the basic principles of scientific thinking. Can science provide answers to all questions?
What will be an ideal response?
Answers will vary.
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If a belief is cultural, asking 10-20 individuals the same question is sufficient to provide a researcher with a high probability that the answer is correct
Indicate whether the statement is true or false
At a particular output level, if a firm's long-run marginal cost is $7 and its long-run average cost is $4, the firm is likely to be experiencing ________.
A) economies of scale B) constant returns to scale C) diseconomies of scale D) sunk costs
Lascaux and Altamira:
a. are famous for their elaborate cave paintings. b. are well known Neandertal sites. c. contain evidence of butchered mammoths. d. are famous for their numerous cave bear skulls. e. are 20,000 year-old campsites.
For any demand curve, the marginal revenue is ________ when the demand is ________.
A) negative; elastic B) positive; inelastic C) positive; elastic D) negative; unit elastic