Form a Valid Conclusion, Using All the Statements for Each

question 156

Short Answer

Form a valid conclusion, using all the statements for each argument. Give reasons.
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If you learn economics, then you are intelligent.
If you are intelligent, then you understand human nature.
If you __________(learn, don't learn) economics, then you __________ (understand, don't understand) human nature.
__________ (direct, indirect, transitive)

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Definitions:

Deadweight Loss

A loss in economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.

Price Ceiling

A government-imposed limit on how high the price of a product can be, intended to protect consumers from high prices.

Monopolist

A single seller in a market who controls the supply of a product or service, and thus, has significant power to set prices.

Deadweight Loss

The drop in economic productivity happening when the optimal free market balance for a good or service isn't met.