The idea that the public interest should be equated with those policies that produce the greatest good for the greatest number _____

a. is the utilitarian criterion
b. is the Pareto optimality criterion
c. is the Hobbesian criterion
d. is a value free judgment

a

Economics

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Water is considered a necessity. So, is the demand for water elastic or inelastic?

What will be an ideal response?

Economics

Andrew Carnegie dominated the steel industry on the basis of the Bessemer converter. This technology permitted unskilled men to produce large quantities of steel at relatively low costs. This technology was

(a) invented by Carnegie. (b) stolen from the British inventor Bessemer. (c) acquired legally from the British inventor Bessemer. (d) imported from Germany.

Economics