The Price of the Samsung Galaxy Tablet Is Falling

question 82

Multiple Choice

The price of the Samsung Galaxy Tablet is falling. In a free-market economic system where everything else is equal, the most likely explanation is

• A) there is a Galaxy Tablet shortage in the United States.
• B) sellers cannot keep up with market demand.
• C) the government determined that the product was not worth the price tag that the producer was asking.
• D) the product has competition at the equilibrium price.

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Definitions:

End Result

The final outcome or conclusion of a process or a series of actions.

Rule Utilitarianism

A form of utilitarianism that says an action is right as it conforms to a rule that leads to the greatest good, or that "the rightness or wrongness of a particular action is a function of the correctness of the rule of which it is an instance."

Act Utilitarianism

A moral theory that suggests an action is right if it leads to the most happiness for the greatest number of people, evaluating each act separately.

Overall Utility

Refers to the total benefit or satisfaction gained from consuming a good or service, taking into account all aspects of its use.