In Utilitarian Justice, an Action Is Considered Just If

question 22

Multiple Choice

In utilitarian justice, an action is considered just if:

• A) The costs are greater than the benefits
• B) The benefits and cost are equal
• C) The benefits are greater than the costs
• D) None of the above

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in a stable market condition.

Equilibrium Quantity

The supply and demand for goods or services at the price point where equilibrium is achieved in a market.

Price

The measure of money anticipated, obligatory, or tendered in payment towards an item.

Equilibrium Price

The cost at which the amount of a product or service that consumers want to buy matches the amount that producers are willing to sell.