Concluding that because free trade is beneficial for the
Concluding that because free trade is beneficial for the economy as a whole, it must be beneficial for each individual is an example of the:
a. ad hoc fallacy.
b. ceteris paribus fallacy.
c. fallacy of division.
d. fallacy of composition.
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game show uncertaintyin the final round of a tv game show contestants have a chance to increase their current winnings
a firm deciding how many workers it should hire to manufacture kitchen countertops using existing equipment is making
economic theory leads to the conclusion that under certain circumstances the free-market outcome is efficient
public goods tend not to be sold in the marketplace becausea there would be no demand for them because they do not
concluding that because free trade is beneficial for the economy as a whole it must be beneficial for each individual
suppose there are external costs associated with the production of cement this means that government can best promote
a competitive profit-maximizing firm will choose to hire workers up to the point where the value of the marginal
the demand for gadgets is likely to be more price-elastic whena there are no substitutes for gadgets available in the
game theory suggests that competing firms in an oligopolistic industry may bea too quick to raise prices because they
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