Egoists Maintain a General Principle of the Following Sort

question 8

Multiple Choice

Egoists maintain a general principle of the following sort:

• A)"One ought to always act in others' interest"
• B)"One ought always act in one's and others' interests"
• C)"One ought to always act in peer group's interest"
• D)"One ought to always act in one's own interest"

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Definitions:

Income Elasticity

Income elasticity measures how the demand for a good or service changes in response to changes in consumer income.

Marginal Utility

The extra pleasure or benefit gained by a consumer from consuming an additional unit of a product or service.

Utility Function

A mathematical representation of how consumers rank different bundles or combinations of goods according to their level of satisfaction.

Partial Derivative

The derivative of a function of multiple variables with respect to one variable, holding the others constant.