A Man Steals from a Grocery Store in Order to Feed

question 12

Multiple Choice

A man steals from a grocery store in order to feed his starving family.Which of the following best expresses the Utilitarian Principle in evaluating this situation?

• A)His action is acceptable,because the grocer suffers the least harm.
• B)His action is acceptable,because the higher social value is the survival of the family.
• C)His action is wrong,because the man would not want the grocer to steal from him.
• D)His action is wrong,because if everyone were to do this,the concept of personal property is defeated.
• E)His action is wrong,because the grocery store owner is harmed.

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive due to higher market price.

Binding Price Ceiling

A government-imposed limit on the price of a product or service that is set below the market equilibrium, leading to shortages and a decrease in supply.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive due to market price.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given time period.