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What assumptions about human nature does Rawls make in developing his theory of justice using the artifice of the original position? Do you think that these assumptions are justified, or not? If so, do you think that the principles of justice that Rawls develops are binding on persons who were not in the original position (i.e., us)? Why, or why not? If not, do you think that the inadequacy of these assumptions undercut Rawls' views? Explain and justify your answer.
Price-taker Model
An economic model describing a company or entity that must accept the prevailing prices in the market of its products because it does not have the market power to change them.
Marginal Costs
The additional cost incurred to produce one more unit of a good or service.
Competitive Market
A market structure characterized by a large number of sellers and buyers, where no single entity has the power to significantly influence prices or market conditions.
Marginal Revenue
The additional income received from selling one more unit of a product or service.
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