For a Hypothesis to Be Considered a Valid Scientific Theory

question 37

Multiple Choice

For a hypothesis to be considered a valid scientific theory, it must _______

• A)summarize experimental data without trying to predict future results.
• B)be impossible to prove wrong by experiment.
• C)explain widely observed phenomena based on extensive testing.
• D)never be modified or expanded.
• E)be voted on by the scientific community and accepted by all.

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Definitions:

Competitive Price-searcher Market

A market structure where firms set their own prices because products are differentiated, giving them some degree of pricing power.

Average Total Cost

The cost per unit produced, found by taking the total production costs and dividing it by the quantity of items produced.

Price-taker Firm

A firm that has no control over the market price and must accept the prevailing market price for its product or service.

Competitive Price-searcher Firm

A business that operates in a market where firms have some degree of control over the prices they charge, often because of product differentiation.