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Use the following two statements to answer this question:
I. Consumer theory can determine whether giving an individual a more preferred basket of goods doubles her overall level of satisfaction, less than doubles her satisfaction, or more than doubles her satisfaction.
II. There is not much empirical evidence to support the assumption that higher incomes result in higher levels of satisfaction.
Number
A mathematical object used to count, measure, and label.
Categorical Syllogism
A form of deductive reasoning consisting of three propositions that are categorical in nature, presenting a relationship between a subject and a predicate.
Minor Term
in syllogistic logic, the term that appears in both the conclusion and one premise of a syllogism, but not the major premise.
Major Premise
The first premise in a syllogism, typically a general statement or proposition that asserts a universal truth or principle.
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