1. The actress Betty White will probably die soon. What effect does this have on the market for Betty White memorabilia today?

(A) Supply increases.

(B) Supply decreases.

(C) Demand increases.

(D) Demand decreases.

Which of the following is the best example of inductive thinking?

(A) A mathematical proof of the Pythagorean Theorem.

(B) "All dogs are mammals. Tony is a dog. Therefore, Tony is a mammal."

(C) I hate Mondays.

(D) I asked around, and Brock University is where all the beauties are.

59.Consider the following argument:

Big Chungus is a fat rabbit. All fat rabbits can fly and shoot laser beams

from their eyes. Therefore, Big Chungus can fly. How would you categorize this argument?

(A) It is logically valid and logically sound.

(B) It is neither logically valid nor logically sound.

(C) It is logically sound but not logically valid.

(D) It is logically valid but not logically sound.

A perfectly elastic demand curve has a price elasticity of demand of:

(A)

(B) 1

(C) 0

(D) 101.345