_________ Basic Formula for Punishment Provides That the Utility of Punishment

question 42

Multiple Choice

_________ basic formula for punishment provides that the utility of punishment to society (by deterring crime) outweighs the negative of the punishment itself.

• A) Beccaria's
• B) Bentham's
• C) Mackie's
• D) Rawls's

Distinguish between price elastic and price inelastic supply and demand.

Identify factors that influence the elasticity of supply and demand.

Analyze how changes in price affect quantity supplied and demanded using the concept of elasticity.

Explain the impact of supply and demand elasticity on total revenue.