Which of the Following Does Chapter 4 Identify as a Circumstance

question 57

Multiple Choice

Which of the following does Chapter 4 identify as a circumstance in which it would be appropriate to require someone to "accept the consequences" of his or her actions?

• A) When avoiding the consequences would require the violation of a deontological constraint.
• B) When the bad consequences are unavoidable.
• C) When the person should have anticipated the bad consequences.
• D) When the person is trying to unfairly shift the burden of those consequences onto someone else.

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Definitions:

ATC

Average Total Cost, which is the total cost divided by the quantity of output produced.

MR

Marginal Revenue is the additional income from selling one more unit of a good; sometimes equal to price.

Short-Run Equilibrium

A situation in which the quantity supplied and quantity demanded in a market are equal at a particular price level, but only for a temporary period.

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical, allowing for competition based on product differentiation.