Which one of the following most accurately expresses the main point of the passage?

on September 29, 2020

Please explain

A little confused as to how E is the answer

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Shunhe on September 30, 2020

Hi @Nativeguy,

Thanks for the question! So we’re being asked here for the main point of the passage. What’s going on in this passage? Well, we’re basically told about two theories: the Pin Factory and the Invisible Hand. Those two models are described to us. Then, at the end of the passage, we’re told that economists ignored the pin factory model until they figured out how to model it. So they finally figured it out. Now, (E) tells us that economists have, until somewhat recently, failed to account for the increasing returns to scale common in many industries. And this has to do with the Pin Factory theory. This probably isn’t the best way you could sum up the main point ever, but it’s definitely better than the other answer choices, and remember we’re always looking for the best answer choice on the LSAT.

Hope this helps! Feel free to ask any other questions that you might have.