For the Next Group of Questions, Consider the Following Argument

question 13

Multiple Choice

For the next group of questions, consider the following argument:
Since (1) values are nothing more than our own evaluation of the facts, (2) they are not objective.(3) Knowledge of the facts is based on empirical evidence, and (4) anything based on such evidence is objective.But (5) evaluating facts is different from knowing them.
-What is the conclusion of the argument?

• A)Values are nothing more than our evaluation of the facts.
• B)Values are not objective.
• C)Knowledge of the facts is based on empirical evidence.
• D)Anything based on empirical evidence is objective.
• E)Evaluating facts is different from knowing them.

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Definitions:

Profit-Maximizing

A strategy or level of production where a firm makes the highest possible profit.

Firm

A business organization, such as a corporation, limited liability company, partnership, or sole proprietorship, that sells goods or services.

Fixed Costs

Business expenses that are not affected by the level of goods or services produced by the business, such as rent, salaries, and insurance.

Price-Taking

A market condition where individual buyers or sellers have no influence over the price of a product due to its abundance in the market and the presence of many competitors.