"Healthy Delicious

question 10

Multiple Choice

"Healthy. Delicious. Drink Ovaltine!" Which of the following claims represents the implied conclusion of this argument?

• A) Ovaltine is healthy.
• B) Ovaltine is delicious.
• C) You should drink Ovaltine.
• D) None; this is not an argument.

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Definitions:

Average-Total-Cost Curve

A graphical representation in economics that shows how the average total cost of production changes as the quantity of output is altered.

Marginal Cost

The elevation in costs incurred by the creation of an additional unit of a good or service.

Long-Run Equilibrium

A state in which all factors of production and economic inputs can be fully adjusted, and all market forces are balanced.

Increase in Demand

A situation where the quantity of a good or service that consumers are willing and able to purchase at a particular price rises.