Figure 3-7 
-Refer to Figure 3-7.Assume that the graphs in this figure represent the demand and supply curves for coffee.What happens in this market if buyers expect the price of coffee to rise?
Definitions:
Psychological Egoism
The theory that suggests that all human actions are motivated by self-interest, even when appearing to be altruistic.
Ethical Egoism
A moral philosophy arguing that individuals should act in their own self-interest and that this is the foundation of morality.
Ought
expresses duty, correctness, or advisability, typically concerning moral obligation or desirable actions.
Sociological
Pertains to the study of social behavior, organization, and the structure of society.
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