Why Do Impoverished Desires Pose a Problem for Desire Theory

question 23

Multiple Choice

Why do impoverished desires pose a problem for desire theory?

• A) Because setting your sights low does not seem to make you better off
• B) Because a satisfied slave does not seem to have a good life
• C) Because many of our desires are shaped by the way we've been raised
• D) All of the above

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Definitions:

Average Total Cost

The total cost of production divided by the number of goods produced; it's a method to calculate the cost per unit of production.

Average Variable Cost

The total variable costs (costs that change with production volume) divided by the quantity of output produced.

Diminishing Marginal Returns

A principle in economics where each additional unit of input results in a smaller increase in output than the previous unit, at a certain point.

Marginal Cost

The additional cost incurred in producing one more unit of a product, emphasizing the concept of optimizing production levels.