Suppose the Empirical Facts Are That Same-Sex Marriage Makes Many

question 9

Multiple Choice

Suppose the empirical facts are that same-sex marriage makes many gay couples happy,strengthens the institution of marriage,and benefits society while causing few if any social or economic problems.A utilitarian then would likely judge same-sex marriage to be ________;a natural law theorist would probably judge it to be ________.

• A)permissible;permissible
• B)impermissible;impermissible
• C)impermissible;permissible
• D)permissible;impermissible

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Definitions:

Explicit Costs

Direct, out-of-pocket payments made by firms for the use of inputs and resources in the production process.

Implicit Costs

Costs that represent the opportunity cost of using resources owned by the firm for its own production instead of earning income elsewhere.

Accounting Profit

The net income reported on the financial statements, calculated as total revenues minus explicit costs.

Economic Profit

The difference between the total revenue generated by a business and the total costs, including both explicit and implicit costs.