Which of the Following Is Not a Direct Result of Scarcity

question 24

Multiple Choice

Which of the following is not a direct result of scarcity?

• A) Buildings in New York City are taller than buildings in Greenville, SC due to fewer acres of land per person.
• B) Due to high gas prices, Shana decides to trade her Chevy Tahoe for a Honda Accord.
• C) A college student misses a test review in order to get a few more hours of sleep.
• D) The energy industry is searching for a way to store the extra power generated by renewable energy.

Know the principles of sample size determination for research, specifically power analysis.

Identify assumptions underlying common logical fallacies such as the False Dilemma and Gambler's Fallacy.

Understand the importance of data collection methods in research evaluation.

Define and recognize examples of post hoc and other logical fallacies.

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Definitions:

R&D

Research and Development, a business or government activity that focuses on the development of new products or the improvement of existing products.

Firm Sales

Firm sales refer to the total amount of revenue that a company generates from the sale of its goods or services within a specific time frame.

Oligopolists

Firms in a market structure dominated by a small number of large companies, having significant control over their industry's prices and policies.

Pure Monopolists

Firms that are the sole providers of a product or service in a market, facing no competition.