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

question 256

Short Answer

Is the argument deductive (D) or inductive (I)?
-We have always collected a lot of candy on Halloween. Therefore, tomorrow night, Halloween night, we will probably collect a lot of candy.

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Definitions:

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, which are incurred regardless of the amount of goods or services produced.

Economic Profit

Profit that accounts for both explicit costs and opportunity costs.

Economic Profit

The financial gain made in a transaction after subtracting both the explicit and implicit costs.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.