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Economist: In the interaction between producers and

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Economist: In the interaction between producers and [#permalink] New post 12 May 2005, 12:53
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

40% (03:08) correct 60% (01:01) wrong based on 5 sessions
Economist: In the interaction between producers and consumers, the only obligation that all parties have is to act in the best interests of their own side. And distribution of information about product defects is in the best interests of the consumer. So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them.

Which one of the following is an assumption required by the economist's argument?

A) It is never in the best interests of producers for a producer to reveal a product defeat.
B) No one expects producers to act in a manner counter to their own best interests.
C) Any product defect is likely to be discovered by a consumer than by a producer.
D) A product defect is more likely to be discovered by a consumer than by a producer.
E) The best interests of consumers never coincide with the best interests of producers.
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Re: CR - Economist [#permalink] New post 12 May 2005, 13:41
gmataquaguy wrote:
Economist: In the interaction between producers and consumers, the only obligation that all parties have is to act in the best interests of their own side. And distribution of information about product defects is in the best interests of the consumer. So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them.

Which one of the following is an assumption required by the economist's argument?

A) It is never in the best interests of producers for a producer to reveal a product defeat.
B) No one expects producers to act in a manner counter to their own best interests.
C) Any product defect is likely to be discovered by a consumer than by a producer.
D) A product defect is more likely to be discovered by a consumer than by a producer.
E) The best interests of consumers never coincide with the best interests of producers.


A.

Conclusion: consumers' best interest is to report defects, producers' best interest is not to report defects

Assumption for the first part of conclusion is in the paragraph, no argument made for the second part.
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 [#permalink] New post 12 May 2005, 20:04
Main point of the argument

In the interaction between producers and consumers, the only obligation that all parties have is to act in the best interests of their own side.

the argument:
consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them.

Assumption stated : distribution of information about product defects is in the best interests of the consumer

So another assumption must be

It is never in the best interests of producers for a producer to reveal a product defeat.



so the answer is 'A'
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Re: CR - Economist [#permalink] New post 12 May 2005, 20:19
A seems.
tough between A and E.
gmataquaguy wrote:
A) It is never in the best interests of producers for a producer to reveal a product defeat.
E) The best interests of consumers never coincide with the best interests of producers.


are C and D same?
gmataquaguy wrote:
C) Any product defect is likely to be discovered by a consumer than by a producer.
D) A product defect is more likely to be discovered by a consumer than by a producer.
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 [#permalink] New post 13 May 2005, 07:09
I will go with C.
Whew between C & D it was like reading a SC. The conclusion of the argument is "consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them"
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Re: CR - Economist [#permalink] New post 14 May 2005, 06:29
gmataquaguy wrote:
Economist: In the interaction between producers and consumers, the only obligation that all parties have is to act in the best interests of their own side. And distribution of information about product defects is in the best interests of the consumer. So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them.

Which one of the following is an assumption required by the economist's argument?

A) It is never in the best interests of producers for a producer to reveal a product defeat.
B) No one expects producers to act in a manner counter to their own best interests.
C) Any product defect is likely to be discovered by a consumer than by a producer.
D) A product defect is more likely to be discovered by a consumer than by a producer.
E) The best interests of consumers never coincide with the best interests of producers.


The OA is A. I was torn between A and E and here is why:

Conclusion: So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them.

Question Type: Assumption.

Solution: Negate the AC and see if the conclusion still holds true.

Negate AC A: It is always [opposite of never, hence the negation] in the best interest of the producers for a producer to reveal a product defect.

If AC A is true, will the conclusion still hold? No. Details below:

If "it is always in the best interests of producers for a producer to reveal a product defect" then the conclusion portion "while producers are never obligated to reveal them" breaks down.

Let me do the same with E

Negate AC E: The interests of consumers always [opposite of never, hence the negation] coincides with the best interests of producers.

If AC E is true, will the conclusion still hold? No. Details below:

If "the best interests of consumers always coincide with the best interests of producers" then the conclusion "So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them" will not hold because "while producers are never obligated" breaks down.

Why because best interests of consumers = best interest of producers. So if best interest of consumer equates to reveal product defects & best interest of consumers = best interest of producers then the portion of the conclusion "producers are never obligated to reveal them" BREAKS DOWN.

So where is the fallicy in this reasoning? Please help

Last edited by gmataquaguy on 14 May 2005, 09:28, edited 1 time in total.
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 [#permalink] New post 14 May 2005, 07:48
A looked good, and we had some nice explanation there.
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 [#permalink] New post 14 May 2005, 10:08
I am also totally lost here because it seems (A) and (E) are similar. Negate both and the argument falls apart.

Meenu, what was your reason for eliminating (E)?
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 [#permalink] New post 16 May 2005, 18:37
Bumping up this thread. Anyone?
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Re: CR - Economist [#permalink] New post 16 May 2005, 20:25
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gmataquaguy wrote:
gmataquaguy wrote:
Economist: In the interaction between producers and consumers, the only obligation that all parties have is to act in the best interests of their own side. And distribution of information about product defects is in the best interests of the consumer. So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them.

Which one of the following is an assumption required by the economist's argument?
.......
E) The best interests of consumers never coincide with the best interests of producers.



Let me do the same with E

Negate AC E: The interests of consumers always [opposite of never, hence the negation] coincides with the best interests of producers.

If AC E is true, will the conclusion still hold? No. Details below:

If "the best interests of consumers always coincide with the best interests of producers" then the conclusion "So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them" will not hold because "while producers are never obligated" breaks down.

Why because best interests of consumers = best interest of producers. So if best interest of consumer equates to reveal product defects & best interest of consumers = best interest of producers then the portion of the conclusion "producers are never obligated to reveal them" BREAKS DOWN.

So where is the fallicy in this reasoning? Please help


Two issues that I think clarify why (E) would be the wrong choice.

1) (E) makes no mention of the word defect, or how anyone should behave with respect to reporting defects. Don't read too much into (E). It says what it literally says, and nothing else.

2) You can negate a never with a sometimes .... you do not have to resort to the extreme of always.

Keeping those two facts in mind, let's negate (E) and see if the passage can still stand on its own.

Negation of (E): The interests of consumers sometimes coincides with the best interests of producers.

Can this negated version of (E) be assumed, and yet the passage about reporting defects still be valid?

YES. Of course interests will sometimes coincide. Or else a transaction would never take place. When something is exchanged in the marketplace, that transaction is in the best interests of both the producer (or else he would not sell the product at the agreed price) and of the consumer (or else he would not buy at the agreed price). The issue of reporting defects is irrelevent to this fact, and vice versa.

For that matter, it is in their mutual best interests that a meteor not fall from the sky and destroy civilization.

Hence, (E)-negated is completely consistent with the passage, therefore original (E) is not a necessary assumption.
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 [#permalink] New post 17 May 2005, 01:24
A
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Re: CR - Economist [#permalink] New post 22 May 2005, 15:49
Supercat wrote:

Two issues that I think clarify why (E) would be the wrong choice.

1) (E) makes no mention of the word defect, or how anyone should behave with respect to reporting defects. Don't read too much into (E). It says what it literally says, and nothing else.

2) You can negate a never with a sometimes .... you do not have to resort to the extreme of always.

Keeping those two facts in mind, let's negate (E) and see if the passage can still stand on its own.

Negation of (E): The interests of consumers sometimes coincides with the best interests of producers.

Can this negated version of (E) be assumed, and yet the passage about reporting defects still be valid?

YES. Of course interests will sometimes coincide. Or else a transaction would never take place. When something is exchanged in the marketplace, that transaction is in the best interests of both the producer (or else he would not sell the product at the agreed price) and of the consumer (or else he would not buy at the agreed price). The issue of reporting defects is irrelevent to this fact, and vice versa.

For that matter, it is in their mutual best interests that a meteor not fall from the sky and destroy civilization.

Hence, (E)-negated is completely consistent with the passage, therefore original (E) is not a necessary assumption.


Thanks again for this wonderful explanation Supercat.
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 [#permalink] New post 23 May 2005, 19:23
That's correct. "Sometimes" is the key.
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 [#permalink] New post 23 May 2005, 19:25
That's correct. "Sometimes" is the key. Also, when in doubt, pick a choice that is closest to the scope of the argument (mentions what is being argued or concluded)
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 [#permalink] New post 23 May 2005, 19:30
nice explanation, supercat...

A it is.
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Re: Economist: In the interaction between producers and [#permalink] New post 19 Aug 2013, 00:13
gmataquaguy wrote:
Economist: In the interaction between producers and consumers, the only obligation that all parties have is to act in the best interests of their own side. And distribution of information about product defects is in the best interests of the consumer. So consumers are always obligated to report product defects they discover, while producers are never obligated to reveal them.

Which one of the following is an assumption required by the economist's argument?

A) It is never in the best interests of producers for a producer to reveal a product defeat.
B) No one expects producers to act in a manner counter to their own best interests.
C) Any product defect is likely to be discovered by a consumer than by a producer.
D) A product defect is more likely to be discovered by a consumer than by a producer.
E) The best interests of consumers never coincide with the best interests of producers.



C is also a valid assumption. If we're given that consumers cannot discover defects then the argument will not hold... Or will it?
thanks in advance...
Re: Economist: In the interaction between producers and   [#permalink] 19 Aug 2013, 00:13
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