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What is the chief difference between utilitarianism and Kant's ethics? Do you think one of these theories is clearly inferior to the other? Do they each represent part of the truth about morality? Explain.
Optimal Allocation
The most efficient distribution of resources within an economy to maximize the output or welfare.
MB = MC
A principle in economics indicating the optimal level of output or consumption, where the marginal benefit (MB) equals the marginal cost (MC).
Marginal Benefit
The added utility or pleasure that comes from the consumption of one more unit of a good or service.
Marginal Cost
The escalation in aggregate cost linked to the fabrication of an extra item of a good or service.
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