Your younger brother likes to yell at the dinner table so the rest of the family will give him what he wants. Assume that this has proved quite successful for him time and again
Let's say that you are from a family of eight and every member of your family starts to adopt the same strategy. Would this work? Why or why not? Explain.
This strategy will probably not work very well. With everyone yelling at the table it is unlikely that anyone will get heard. This is what is known as the fallacy of composition. What is good for the individual is not necessarily good for the whole.
You might also like to view...
The ____ is the fraction of each additional dollar of income that is paid in taxes
a. deferred tax rate b. cumulative tax rate c. average tax rate d. marginal tax rate
When a tax is levied on buyers of tea,
a. buyers of tea and sellers of tea both are made worse off. b. buyers of tea are made worse off, and the well-being of sellers is unaffected. c. buyers of tea are made worse off, and sellers of tea are made better off. d. the well-being of both buyers of tea and sellers of tea is unaffected.