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Sublight2097 Sublight2097
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8 years ago
Somebody steals silverware from the dinner table at a nice restaurant. You question them and they justify their behavior by saying, "The restaurant management knows customers steal–they raise the price of their meals and drinks to cover the additional costs of stolen items. Since they pass on the higher costs to all of us who haven't stolen, I think it is only fair I finally get my share of the silverware." The economist would view the above statement as:
A) incorrect, because even though people stole silverware, it doesn't make it any more profitable to raise prices.
B) correct, because what's fair is fair.
C) correct, because economics champions such selfish behavior.
D) an ethical problem, and it has nothing to do with economics.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SmooothSmoooth
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Seriously, you've been tremendously helpful! Thank you.
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#3
8 years ago
No problemo Happy Dummy
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