Which of These Is the Best Definition of a Scientific

question 16

Multiple Choice

Which of these is the best definition of a scientific hypothesis ?

• A) A prediction based on a limited number of observations
• B) A method of explaining observations that appears contradictory
• C) A broadly applicable generalization with virtually no exceptions
• D) A method for approaching problems that is used by all scientists
• E) A tentative model that describes the underlying cause of observations and laws

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Definitions:

Competitive Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, in a perfectly competitive market.

Utility Function

A utility function is an economic model representing satisfaction or preference a consumer derives from consuming goods and services.

Initial Endowment

The original allocation of resources, such as wealth or goods, that an individual or entity starts with.

Numeraire

A standard unit of measurement in economics used to express prices or monetary values, making it easier to compare different goods or services.