Demand and Utility Schedules for Packs of Star Wars Trading

question 95

Multiple Choice

Demand and Utility Schedules for Packs of Star Wars Trading Cards $$\begin{array} { | l | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\\hline \$ 10 & 1 & & \\\hline \$ 9 & 2 & & \\\hline \$ 8 & 3 & & \\\hline \$ 7 & 4 & & \\\hline \$ 6 & 5 & & \\\hline\end{array}$$
-Katie's total utility for 4 packs of Star Wars trading cards would be

• A)$24.
• B)$27.
• C)$28.
• D)$34.
• E)None of the choices are correct.

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Definitions:

Deontological Theory

A moral philosophy where the morality of an action is based on its adherence to rules or duties, rather than the consequences of the action.

Utilitarian Theory

A normative ethical theory that suggests that the best action is the one that maximizes utility, often defined as maximizing happiness and reducing suffering.

Deontological Theory

An ethical framework that judges the morality of an action based on its adherence to a set of rules, rather than the consequences of the action.

Profit Maximization Theory

An economic principle suggesting that the goal of a business is to increase net income by managing revenue and costs.