Which of the Following Conclusions Is an Example of Inductive

question 2

Multiple Choice

Which of the following conclusions is an example of inductive reasoning?

• A) If firms have economies of scale, then average costs will fall with total output.
• B) If a firm has monopoly power, then it will price above marginal cost.
• C) If consumer demand is downward sloping, quantity demanded will fall as prices increase.
• D) Given that firms in the auto industry in the Southwest were profitable, all firms nationwide were profitable.

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Definitions:

Perforation

A medical condition in which a hole or tear occurs in the wall of any part of the gastrointestinal tract or other bodily organs.

Endoscope

A flexible tube with a light and camera attached, used to examine the interior of a bodily organ or space.

Natural Opening

A passage by which substances or objects can enter or exit an organ or body part naturally.

Artificial Opening

A surgically created opening in the body for the discharge of bodily wastes or other purposes.