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The demand and supply functions for pizza in the local market are: QD = 20,000 - 833P and
QS = 5,000 + 417P. Calculate consumer and producer surplus in this market. If the minimum wage is increased by $2 per hour, the new market supply curve becomes: Q'S = 4,000 + 417P. Calculate the loss in consumer and producer surplus in the pizza market due to this change.
Descriptive Premises
Statements in an argument that provide factual information or describe the way things are, without making an argument for how things ought to be.
Moral Outrage
Indignation in the presence of an injustice or violation of moral decency.
Imagining Feelings
The process of mentally simulating the emotions or feelings that another person might be experiencing.
Guilt
A moral sentiment that alerts us to and motivates us to correct a wrong.
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