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:

Annual Cash Revenues

The total money received from sales activities, without accounting for any deductions or costs, over the course of a year.

Hurdle Rate

The minimum rate of return on an investment that is required by a manager or investor to proceed with the investment.

Income Taxes

Taxes imposed by the government on the income generated by businesses and individuals.

Net Present Value

A financial metric that calculates the present value of all cash flows (both incoming and outgoing) associated with an investment, adjusted for time and interest.