________ Is a Moral Theory Which Asserts That Fairness Is

question 1

Multiple Choice

________ is a moral theory which asserts that fairness is the essence of justice.

• A)Kantian ethics
• B)moral relativism
• C)utilitarianism
• D)Rawls's social justice theory

---

Definitions:

Average Variable Cost

The cost of labor and materials divided by the quantity of output produced, reflecting costs that change with the level of output.

Average Total Cost

The total cost of production divided by the quantity of output produced; it includes both fixed and variable costs.

Economic Loss

This occurs when total costs exceed total revenue, leading to a negative profit situation.

Marginal Cost

The amount spent to produce an extra unit of a product or service.