If an Indirect Truth Table Requiring More Than One Line

question 227

Multiple Choice

If an indirect truth table requiring more than one line is constructed for either an argument or a series of statements and no contradiction is derived on the first line, then:

• A) The argument is valid and the statements are consistent.
• B) The argument is invalid and the statements are consistent.
• C) The argument is valid and the statements are inconsistent.
• D) The argument is invalid and the statements are inconsistent.
• E) The second line of the truth table must be completed.

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Definitions:

Consumer Demand

The desire of purchasers, consumers, or buyers for a particular good or service supported by the ability and willingness to pay for it.

Midpoint Formula

A method used in economics to calculate the elasticity of demand or supply, measuring the relative response to changes in price or income, based on the average of initial and final values.

Quantity Effect

The change in the quantity demanded or supplied as a result of changes in price, holding all else constant.

Price Effect

The impact on consumer demand and supply of goods or services caused by a change in the price of those goods or services.