All Trolls Are Ugly Creatures

question 371

Multiple Choice

All trolls are ugly creatures. Therefore, no trolls are beautiful creatures.

• A) Invalid; illicit obversion.
• B) Invalid; illicit contrary.
• C) Invalid; existential fallacy.
• D) Invalid; illicit contraposition.
• E) Valid; no fallacy.

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Definitions:

Demand Equation

A mathematical expression that relates the quantity of a good that consumers are willing to buy to the good's price and other variables such as income and the price of related goods.

Price Floor

A government-imposed minimum price set above the equilibrium price, preventing market prices from falling below it.

Shortage/Surplus

Conditions where the quantity demanded is greater than the quantity supplied (shortage) or the quantity supplied is greater than the quantity demanded (surplus) in a market.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a specific price level.