When Applied to Voluntary Actions, Hume Understands Liberty to Mean

question 10

Multiple Choice

When applied to voluntary actions, Hume understands liberty to mean

• A) The power to act in the absence of any causal influence.
• B) The power to act according to the determinations of the will.
• C) The power to act on the basis of chance.
• D) Both b and c

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Definitions:

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of product.

Demand Schedule

A table that shows the quantity of a good or service demanded at different prices.

Natural Monopolist

A single firm that can supply a good or service to an entire market at a lower cost than could two or more firms, leading to a natural monopoly situation.

LRAC Curve

The Long-Run Average Cost curve, showing the lowest average cost at which a firm can produce any given level of output in the long run when all inputs are variable.