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If a monopolist faces an inverse demand curve, p(y) = 100 - 2y and has constant marginal costs of $24 and zero fixed costs and if this monopolist is able to practice perfect price discrimination, its total profits will be
Utilitarian Justice
principle focusing on creating the greatest good for the greatest number, often used in ethical decision-making and policy evaluation.
Distributional Justice
The ethical consideration of how economic benefits and burdens should be distributed among different members of society.
Rawlsian Justice
A theory of justice that emphasizes fairness in the distribution of goods and opportunities, based on the work of philosopher John Rawls.
Social Contract
A theory in political philosophy that posits an implied agreement between the governed and the government, defining the rights and duties of each.
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