Which of the Following Would Be Advocated by the "Administrative

question 22

Multiple Choice

Which of the following would be advocated by the "administrative" version of utilitarianism?

• A)Deregulation of advertising standards
• B)Reliance on free and competitive markets
• C)Risk-taking by consumers
• D)Government regulation of business

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Definitions:

Fixed Cost

Costs that do not change with the amount of goods or services produced, such as rent, salaries, and loan payments.

Variable

A variable represents any quantity, factor, or feature that can vary or change in mathematical modeling, statistics, and scientific experiments, influencing results or outcomes.

Output

Refers to the total amount of goods or services produced by an individual, company, or economy.

AVC

Average Variable Cost, the total variable costs divided by the quantity of output produced.