An Individual Could Argue That Stealing Food Is Defensible and Ethical

question 32

Multiple Choice

An individual could argue that stealing food is defensible and ethical to save your child from starvation.This rationale is based on which of the following principles?

• A)The ethics of rights
• B)The ethics of duties
• C)Egoism
• D)Utilitarianism
• E)Virtue ethics

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Definitions:

Marginal Revenue

The extra revenue earned from the sale of an additional unit of a product or service.

Maximize Profits

The process by which a firm adjusts its production and pricing strategies to earn the highest possible profit.

Economic Profits

Profits calculated by subtracting both the explicit and implicit costs of production from total revenues.

Monopolistically Competitive

Describes a market type where numerous sellers offer differentiated products, leading to competitive yet non-homogeneous markets.