The best logical induction that can be made is d. People do and do not like oranges.
<h3>What is logical induction?</h3>
This refers to making a generalization about a population based on individual pieces of information about the population's members.
Betsy and Benjamin like oranges but Jose does not. This means that people can either like or dislike oranges.
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The consumer surplus of Alexis, Bruno, and Camila increases by $7.
<h3>What is consumer surplus?</h3>
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Initial consumer surplus = ($12 - $6) + ($8 - $6) = $8
New consumer surplus = ($12 - $3) + ($8 - $3) + ($4 - $3) = $15
Change in consumer surplus = $15 - $8 = $7
Here is information on the question:
Alexis is willing to pay $12, Bruno is willing to pay $8; and Camila is willing to pay $4. The market price is $6.
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You would see "<span>b. a decrease in the demand for chocolate pudding".</span>
A monopoly is a market situation in which a good or service is offered by only one company. The existence of a monopoly presupposes that there are no other exchangeable products on the market for buyers.
The conditions that can cause the creation of a monopoly are many: state legislation that prohibits other companies from operating in a market, the overwhelming superiority of a company over its competitors, the neutralization of rivals with appropriate strategies by the monopoly company, and special market characteristics that allow profitably running just one business, between others.
The monopoly company has the ability to influence the quantity or price of a good, as it wants, since it can and does control the market.
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Answer: exploratory research
Explanation: In simple words, exploratory research refers to the research which is conducted for problem that involves knowing what is going on in the current situation. These researches results in development of conclusion that is completely new.
In the given case, Nancy bales has to make a research about a product that is new to the market. She has to conclude if that item is better than the i-pod or not.
Hence we can conclude that Nancy has to perform exploratory research.
