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.
C
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To increase its profit, a perfectly competitive firm will produce more output when
A) price is greater than average fixed cost. B) price is greater than marginal cost. C) marginal cost is less than average total cost. D) average variable cost is greater than average fixed cost. E) price is greater than average variable cost.
In the 1920s, American (non-farm) labor benefited from all of the following except:
a. low unemployment rates. b. falling weekly work hours. c. legal limits on immigration. d. passage of federal minimum wage legislation.
The existence of the Federal Savings and Loan Insurance Corporation (FSLIC) reduced the number of S&L failures in the 1980s and 1990s
Indicate whether the statement is true or false
In the aftermath of the terrorist attacks of September 11, 2001, ________ banks failed because of the disruption to business on Wall Street.
A. no B. 50 percent of all C. 1 in 10 D. only 2