According to John Stuart Mill, "It Is Better to Be

question 1

Multiple Choice

According to John Stuart Mill, "It is better to be a human being dissatisfied than a pig satisfied; better to be Socrates dissatisfied than a fool satisfied." If true, this is a problem for

• A) mainstream utilitarians because their theory entails that it would be better to be a satisfied pig.
• B) virtue ethicists because their theory entails that it would be better to be a satisfied pig.
• C) duty ethicists because their theory entails that it would be better to be a satisfied pig.
• D) None of the above

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Definitions:

Maximin Strategy

A decision rule used in situations of uncertainty to maximize the minimum gain that can be secured.

Equilibrium

A state where market supply and demand balance each other, and, as a result, prices become stable.

Dominant Strategy

In game theory, a strategy that is best no matter what the opposition does.

Players

In an economic context, players refer to individuals or entities actively participating in a market or economic model.