Assume That Joe Is Willing to Produce Another Hamburger That

question 37

Multiple Choice

Assume that Joe is willing to produce another hamburger that costs $1 to make. Mary is hungry and is willing to buy a hamburger for $3. According to the No Cash on the Table Principle, Joe and Mary:

• A)will make a trade.
• B)will only make a trade if Joe can get Mary to spend more than $3 for the hamburger.
• C)will only make a trade if Mary can get Joe to charge less than $1 for the hamburger.
• D)will never trade; they will look for better deals.

---

Definitions:

Absolute Standards

Measures or criteria that are fixed and universally applied, regardless of context or situation.

Market Value Ethics

The ethical considerations involved in determining the fairness of prices and valuations in the marketplace.

Ethical Rules Of Conduct

Guidelines that govern the ethical and moral behavior of individuals and organizations in various professions.

Legal Persons

Entities (such as individuals, companies, and organizations) that have legal rights and obligations, including the capacity to enter into contracts, sue, and be sued.