According to utilitarians, the ultimate objective of public actions should be to
a. ensure the poor can afford an adequate diet.
b. distribute income uniformly.
c. maximize the sum of individual utility.
d. prevent all people from experiencing diminishing marginal utility.
c
Economics
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Which of the following is definitely NOT an example of a natural monopoly?
A) local water distribution companies B) urban rail services C) local electric power and gas distribution companies D) urban retail stores
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Diseconomies of scale are present when the long run average total cost of production declines as output expands
a. True b. False Indicate whether the statement is true or false
Economics