The Following Ways of Thinking Imply Poor Critical Thinking

question 4

Multiple Choice

The following ways of thinking imply poor critical thinking:

• A) confusing correlation with causation
• B) using research findings to inform assessment
• C) using dramatic case examples to inform assessment
• D) a and c

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Definitions:

Average-total-cost Curve

A graphical representation showing the average total cost of producing different quantities of a good or service, illustrating how costs vary with changes in output.

Average-fixed-cost Curve

A graphical representation showing how the average fixed cost of production decreases as the quantity of output increases.

Implicit Costs

The opportunity costs of using resources owned by the business for its operations instead of allocating them to their best alternative use.

Interest Rate

The expense associated with taking out a loan or the earnings from investments, usually shown as a percent of the total amount invested or borrowed.