Which of the Following Groups Would Be Most at Risk

question 39

Multiple Choice

Which of the following groups would be most at risk if justice was not an ethical principle?

• A) grandchildren of celebrities
• B) homeless people
• C) company CEOs
• D) teachers

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Definitions:

Monopoly Price

The price a company with a monopoly can charge, which is higher than in competitive markets due to the lack of competition.

Monopoly Quantity

The output level produced and sold by a monopoly at the price where marginal cost equals marginal revenue.

Prisoners' Dilemma

A concept in game theory where two individuals acting in their own self-interest do not produce the optimal outcome, highlighting the conflict between group and individual interests.

Automobile Market

The market sector that involves the buy, sell, production, and design of automobiles including cars, trucks, and motorbikes.