Table: Maximin Data 2 This Table Represents Four Different Societies (1, 2, 3, and c

question 163

Multiple Choice

Table: Maximin Data 2 $$\begin{array} { c c c r c } \hline \text { Society } & \text { High } & \text { Middle } & \text { Low } & \text { Average } \\\hline 1 & \$ 200 & \$ 150 & \$ 100 & \$ 150 \\2 & 800 & 600 & 70 & 490 \\3 & 150 & 125 & 115 & 130 \\4 & 100 & 100 & 100 & 100 \\\hline\end{array}$$ This table represents four different societies (1, 2, 3, and 4) and the average incomes of the high, middle, and low income groups in each society, as well as the overall average income of each society. Which society would a utilitarian say is the best?

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Late Payments

Late payments are amounts due that are not paid by their due date, often resulting in additional charges or penalties.

Inventory Returns Estimated

The anticipated amount of goods that will be returned to inventory due to cancellations, defects, or unsatisfactory products.

Current Liabilities

Obligations a company must fulfill within the forthcoming fiscal year, including debts, accounts payable, and other short-term financial responsibilities.

Balance Sheet

A balance sheet is a financial statement that presents a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.