Assess the Following as Probably , as Probably , as Requiring

question 67

Essay

Assess the following as probably , as probably , as requiring further documentation before judgment, or as a claim that cannot properly be evaluated. Consider both the nature of the claim and the source.
"With due regard to the recent experience by certain individuals in the Russian city of Voronezh, the Space Brothers who landed and exited from their craft were on a peace mission.... What was thought to be and reported mistakenly as a knife held in the hand of one of the Space Brothers was a thought, only in the mind of the reporter.... What was being held was a communication device.... This device was translating the thoughts of the Space voyager into the language that could be understood in that particular part of the world."
-Press release, Unarius Academy of Science

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Definitions:

Market Supply Curve

A graphical representation showing the relationship between the price of a good and the total output of the industry at that price.

Average Variable Costs

The cost that varies with the level of output, divided by the quantity of output produced, reflecting the variable expenses per unit.

Economic Profit

The difference between total revenue and the total costs of production, including opportunity costs not just explicit costs.

Long Run Equilibrium

A state in which all factors of production and costs are variable, and firms no longer have an incentive to enter or exit an industry, leading to a stable market condition.