Author Question: The figure illustrates the demand for eggs. At what price will egg sellers maximize their total ... (Read 167 times)

Sportsfan2111 · **on:** Jun 29, 2018

The figure illustrates the demand for eggs. At what price will egg sellers maximize their total revenue?

A) above 0.75 a dozen
B) 0.75 a dozen
C) less than 0.75 a dozen
D) 1.50 a dozen

Question 2

An analyst on a local news channel argues that the recent corporate scandals demonstrated very clearly that self interest always contradicts social interest. Do you agree or disagree? Substantiate your answer.

What will be an ideal response?

bitingbit · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

You should disagree. The recent corporate scandals only show that self interest might contradict social interest. But they don't prove that this is necessarily the case as we can find many real-world examples of how people guided by self-interest promote society's well-being. In fact, under the market system the whole economy operates through the decisions made by self-interested individuals. And countries such as the United States have proven to be more successful in promoting social interest than were centrally planned, or communist, economies where people's self interest was suppressed and all important economic decisions were made by government.