Utilitarianism Is Based on the Concept of

question 24

Multiple Choice

Utilitarianism is based on the concept of

• A) perfect competition.
• B) imperfect competition.
• C) diminishing marginal product.
• D) diminishing marginal utility.
• E) negative externalities.

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Definitions:

Moon Illusion

An optical illusion in which the moon appears larger near the horizon than it does while higher up in the sky.

Horizon

The line at which the earth's surface and the sky appear to meet, or metaphorically, the limit of a person's knowledge, experience, or interest.

Social Error

A mistake or misunderstanding that occurs in social contexts or interactions.

Collective Delusion

A phenomenon where a group of people share and believe in a false or unfounded idea or belief.