If Applying the Utilitarian Standard, a Critic Might Ask

question 1

Multiple Choice

If applying the Utilitarian standard, a critic might ask:

• A) Was the message exceptional in some way?
• B) Did the message encourage public virtue?
• C) Did proper conclusions flow from the evidence presented?
• D) Did the message do what was intended?
• E) Did the message help lead to important social changes?

Recognize the impact of consumer protection law on online transactions.

Understand the basic concept of asymmetric information and its impact on market transactions.

Recognize adverse selection and moral hazard problems in various markets.

Identify mechanisms like market signaling and government intervention to mitigate asymmetric information issues.