A Hypothesis Is ________

question 83

Multiple Choice

A hypothesis is ________

• A)an explanation that cannot be validated.
• B)a scientific theory used to explain observations.
• C)an explanation of observed processes that needs to be tested.
• D)the entire process through which scientific phenomena are explained.
• E)one side of a right triangle.

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Definitions:

Emissions Standard

Legal limit on the amount of pollutants that a firm can emit.

Marginal External Cost

The additional cost incurred by society due to one more unit of a good or service being produced, that is not accounted for by the producer.

External Cost

A cost of a transaction that affects someone who is not directly involved in the transaction.

Profit Maximizing

A strategy or point at which a firm decides the price and output level that leads to the maximum profit.