Bentham Believed That the Interest of the Community Could Not

question 6

True/False

Bentham believed that the interest of the community could not be addressed without attending to the interest of the individual.

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Definitions:

Sunk Cost

An expenditure that has already been incurred and cannot be recovered, and should not affect future decisions.

Defective Units

Products that fail to meet quality standards or specifications and are often unsellable or subject to returns and repairs.

Salvage Company

A business specialized in saving, recovering, and selling the usable parts of damaged, inoperative, or discarded goods.

Incremental Cost

The additional cost incurred to produce one more unit of a product or service.