Smith’s utilitarian argument is most commonly criticized for making what some call unrealistic arguments. Smith assumes that no one seller can control the price of a good. Smith assumes that the manufacturer will pay for all the resources used to produce a product. Smith assumes that humans are motivated only by a natural, self-interested desire for profit.All the aboveB & C

Smith’s utilitarian argument is most commonly criticized for making what some call unrealistic arguments. Smith assumes that no one seller can control the price of a good. Smith assumes that the manufacturer will pay for all the resources used to produce a product. Smith assumes that humans are motivated only by a natural, self-interested desire for profit.All the aboveB & C

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter2: Economics: Eight Powerful Ideas

Section: Chapter Questions

Problem 11P

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