Is Paley Correct That When One Finds a Rock, One

question 24

Essay

Is Paley correct that when one finds a rock, one does not infer that it was designed but that when one finds a watch (or an eye), one must make this inference? Explain.

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Definitions:

MRP Schedule

A chart or table that shows the marginal revenue product of labor, detailing how changes in the quantity of labor employed will impact total revenue generated.

Economic Rent

A payment to an owner or factor of production in excess of the costs needed to bring that factor into production.

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production.

Wages

Payments made to employees for their labor, typically calculated on an hourly, daily, or piecework basis.