The Utilitarian Case for Redistributing Income Is Based on the Assumption

question 50

Multiple Choice

The utilitarian case for redistributing income is based on the assumption of:

• A)a notion of fairness engendered by equality
• B)diminishing marginal utility
• C)rising marginal utility
• D)collective consensus

---

Definitions:

Product Differentiation

The act of distinguishing a product or service from market rivals to heighten its allure for a particular target market.

Uniform Design

The creation of a consistent and standardized appearance across products or within an organization.

Mass Production

The manufacture of large quantities of standardized products, often utilizing assembly line technology and automation.

Pure Competition

A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price taking behavior.