Is the Argument Deductive (D) or Inductive (I)

question 60

Short Answer

Is the argument deductive (D) or inductive (I)?
-This car gets 20 mpg. It has ten gallons in its tank. Therefore, it will surely go two hundred miles before needing gas.

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Definitions:

Zero Profits

A situation where a firm's total revenues exactly equal its total costs, typically in the long run in perfectly competitive markets.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, with few barriers to entry.

Price Exceeds Marginal Cost

A situation where the price of a good is higher than the marginal cost of producing it, often indicating imperfect competition.

Excess Capacity

The situation where a firm is producing at a lower scale of output than it has been designed to handle, resulting in unused productive capacity.