According to Influential Moral Philosopher Jeremy Bentham

question 56

Multiple Choice

According to influential moral philosopher Jeremy Bentham,

• A) Utility functions should provide cardinal information about preferences
• B) The aim of public policy should maximize an individual's utility
• C) Utility functions should provide ordinal information about preferences
• D) Public policy decisions should be based on ordinal utility

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Definitions:

Pizza Sellers

Businesses or individuals that sell pizza to consumers.

Hamburger Sellers

Businesses or individuals involved in the selling of hamburgers, often used as an example in economic models.

Total Revenues

The total income that a firm receives from the sale of its goods and services.

Inelastic

Describing a situation in which the demand or supply for a good or service is not significantly changed when the price changes.