Find the flaw in reasoning in the following statement: An increase in the cost of oil will
Question:
Find the flaw in reasoning in the following statement: “An increase in the cost of oil will cause the price of a plane ticket to increase. This increase in price will cause a decrease in demand for airline travel and a leftward shift in the demand curve.”
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The flaw in reasoning in the statement lies in assuming a direct and unidirectional relationship bet...View the full answer
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