A Friend of Yours Calls to Say That His Car

question 21

Multiple Choice

A friend of yours calls to say that his car would not start this morning. He asks for your help. You say that you think the battery must be dead. If so, then jump-starting the car from a good battery will solve the problem. In doing so, you are ________.

• A) testing a theory for why the car will not start
• B) making observations to inspire a theory for why the car will not start
• C) stating a hypothesis and using that hypothesis to make a testable prediction
• D) comparing multiple hypotheses for why the car will not start

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Definitions:

AC

Stands for Average Cost, which is the total cost of production divided by the number of goods produced.

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, such as high startup costs or regulatory requirements.

Monopoly

a market structure characterized by a single seller who has exclusive control over a product or service, often leading to higher prices and less competition.

Long Run

In economics, a period in which all inputs or factors of production can be varied, allowing companies to adjust all aspects of their operations.