Employing utilitarianism as a measure of the public interest _____
a. is inconsistent with the concept of a social welfare function
b. attempts to minimize the problems associated with market failure
c. attempts to maximize total utility in a society
d. avoids comparing individual's utilities
c
Economics
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Bureaucrats deciding what products should be sold in stores is a feature of a
a. traditional economy b. command economy c. market economy d. capitalist economy
Economics
"If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $10 per hour." The opportunity cost of attending class this evening is: a. $4
b. $40. c. $44. d. $0.
Economics