If a Deductive Argument Has One True Premise and a True

question 70

Multiple Choice

If a deductive argument has one true premise and a true conclusion, then we know:

• A) Nothing as such about the argument's validity.
• B) The argument is invalid.
• C) The argument is valid.
• D) The argument is weak.
• E) The argument is uncogent.

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Definitions:

Long-run Equilibrium

This is a condition where all factors of production and outputs in an economy or market are optimized and can vary to reach a state of general equilibrium.

Price-taker Industry

An industry in which individual firms have no control over the price of their product and must accept the market price set by the forces of supply and demand.

Price-taker Industry

An industry in which individual firms have no control over the price of their product; they "take" the market price as given.