Examlex
After a subject in his obedience experiment repeatedly protested and questioned the experimenter,Milgram commented that "He thinks he is killing someone,yet he uses the language of the tea table." What four factors help explain why an individual,such as this man,could become morally disengaged from the consequences of his actions?
Profits
The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
Price-Discriminating Monopolist
A monopolist that charges different prices to different groups of consumers for the same product, to maximize profits by capturing consumer surplus.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with a higher elasticity indicating a greater responsiveness.
Monopolist's Profits
The excess earnings a monopoly achieves due to the lack of competition, allowing for price control and higher profit margins.
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