Economists will use a model such as the law of demand
A) forever, ignoring all criticism.
B) until it is refuted by someone.
C) until the model produces the same results with added complexity.
D) until every microeconomic courses uses the model.

Question

Quizplus · Accepted Answer

Economists will use a model like the law of demand until it is refuted or shown to be incorrect by someone. Economists are always open to modifying or replacing their models and theories in response to new evidence and criticism.

Economists Will Use a Model Such as the Law of Demand