Author Question: Which of the following CORRECTLY defines utilitarianism? A) Cost will increase if production ... (Read 38 times)

biggirl4568 · **on:** Jun 29, 2018

Which of the following CORRECTLY defines utilitarianism?

A) Cost will increase if production increases.
B) The difference between what a consumer is willing to pay and what actually has to be paid.
C) Society should strive to achieve the greatest good for the greatest number.
D) Equality will not result in efficient outcomes.

Question 2

The above figure illustrates a single-price unregulated monopolist. If the monopolist maximizes its profit, the deadweight loss equals ________.

A) 10,000
B) 20,000
C) 45,000
D) 40,000