While Discussing a Trip She Made to the Pacific Northwest

question 4

Multiple Choice

While discussing a trip she made to the Pacific Northwest, Dilara told her friend that she met people there who think the Bigfoot creature is real, and that scientists have not proved Bigfoot does not exist. Dilara believes Bigfoot exists. Dilara is making the thinking or argumentation error of:

• A) forming an illusory correlation between sightings and Bigfoot's existence.
• B) asserting the consequent and falling prey to belief bias.
• C) engaging in circular reasoning because she wants to believe in Bigfoot's existence.
• D) arguing from possibility and shifting the burden of proof.

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Definitions:

Monopolistic Firm

A type of company that possesses significant market power, allowing it to operate without many competitors and set prices above the competitive level.

Homogeneous

Describes a substance or mixture that has a uniform structure or composition throughout, or a market condition where products are identical in features and quality from the consumer's perspective.

Close Substitutes

Products or services that can easily replace each other in the eyes of the consumer due to their similar features and functions.

Vertical Demand Curve

A demand curve that is vertical reflects an instance where the quantity demanded does not change in response to changes in price, indicating perfectly inelastic demand.