Your friend steals towels from hotels. She then tells you she steals because many people steal, so hotels already figure the cost of the stolen towels into the hotel bill of all customers. From the economic point of view, your friend's logic i
A) correct, because what's fair is fair.
B) correct, because economics champions such selfish behavior.
C) impeccable.
D) incorrect, because it suggests that cost determines price.
E) incorrect, because it suggests that ethical positions can be derived from economic facts.
Question 2
In economics as well as in social relations in general, clear and concise information
A) eliminates the need for cooperation.
B) guarantees effective cooperation.
C) makes cooperation easier to achieve.
D) makes cooperation more difficult to achieve.
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