Would Thomson's Analysis of the Case Differ If the Bystander

question 14

Essay

Would Thomson's analysis of the case differ if the bystander could communicate with the others involved? Would it, for example, matter if the bystander had permission to divert the track? How might the possibility of communication change the analysis?

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the efficiency with which a company utilizes its resources.

Explicit Costs

are direct, out-of-pocket payments for expenses incurred by a business or individual.

Revenues

The total income generated by a company or organization from its activities, before any expenses are subtracted.

Economic Profit

The difference between the total revenues received by a business and the total opportunity costs of all resources used in the production.