You are correct. The first statement that you had was the right answer.
Producers want to charge prices that at least will return all their costs: the cost of production, compensation for the time they and their employees spend on the production, and the cost of material, but in an ideal case they want to charge more so that they can earn profits.
Incomplete/unclear question. The correct question read;
<u>88% </u>of all Rutgers/Newark students will get drunk this weekend. P2: Booze-Head is a Rutgers/Newark student. Can it be inductively concluded that Booze-Head will not get drunk this weekend?
Answer:
<u>No</u>
Explanation:
<em>Remember,</em> inductive reasoning is often based on<u> broad generalizations from specific observations.</u>
So since from this scenario, a broad generalization was made that <u>88% </u>of Rutgers/Newark students will get drunk this weekend, it seems <u>unlikely </u>and illogical that Booze will not be among those getting drunk on the weekend.