Examlex
How does utilitarianism have a strong impact on business and business ethics?
Marginal Cost
The cost of producing one additional unit of a good or service, critical for decision-making on production and pricing.
Benefit of Abatement
This refers to the advantages or positive effects derived from reducing or eliminating negative environmental impacts or pollutants.
External Benefits
Positive effects of a product or a decision that are enjoyed by people other than those who decide to produce or consume the product.
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