The Justification Made by Utilitarianism for Redistributing Income Is Based

question 66

Multiple Choice

The justification made by utilitarianism for redistributing income is based on the idea that

• A) wealthy people provide society with less utility than those of modest means.
• B) it is morally fair.
• C) the gains of the wealthy are frequently undeserved.
• D) the marginal utility of income declines as income increases.
• E) the marginal utility of income rises as income increases.

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Definitions:

Average Total Costs

A rephrasing: The sum of all production costs divided by the quantity of goods produced, indicating the average cost for each unit.

Average Variable Costs

This represents the total variable costs (costs that vary with the production level) divided by the quantity of output produced.

Total Costs

The sum of all costs incurred by a business in producing a particular quantity of a good or service, including both fixed and variable costs.

Economic Cost

The total cost of choosing one action over another, including both explicit costs and opportunity costs.