Henry Hudson

question 157

Multiple Choice

Henry Hudson

• A) set sail into the bay that bears his name as a representative of the British empire.
• B) was searching for the Pacific coast.
• C) hoped to find the Northwest Passage to Asia.
• D) set up a Dutch colony based on the idea of consent of the governed.
• E) was the architect of the Dutch overseas empire.

Distinguish between utilitarian considerations in personal versus general actions.

Understand the challenges in predicting outcomes and the potential inefficiency of consequentialist deliberations.

Understand the principle of utility and its association with the Greatest Happiness Principle as articulated by Mill.

Recognize the challenges and objections to act consequentialism, including the practical difficulty of calculating consequences for every action.

---

Definitions:

Profit-Maximizing

The process or strategy of adjusting production and sales to achieve the highest possible profit levels.

Monopoly Firm

A single business or corporation that controls a significant portion or all of the market for a particular type of product or service.

Cost Per Unit

The total expense incurred to produce, store, and sell one unit of a product, including overhead costs.

Economic Profits

Profits earned by a firm or individual after considering both explicit financial costs and the implicit costs of alternatives forgone.