Problem regarding Utilitarianism

Can someone help me in finding out the right answer from the given options. However the idea that people seek happiness and try to evade pain dates back to Epicurus and other ancient Greeks, the individual generally acknowledged as the founder of the ‘modern’ school of thought termed as utilitarianism was: (1) John Stuart Mill. (2) Thorstein Veblen. (3) Jeremy Bentham. (4) William James. (5) Fyodor Dostoyevsky.

View Complete Question

Related Questions in Microeconomics

Q : Downward slope of consumer demand curves

Can someone please help me in finding out the accurate answer from the following question. The downward slope of the consumer demand curves for normal goods is partly described by: (i) Income effects. (ii) Diminishing marginal utility. (iii) Substitution effects. (iv)

Q : Market demand curve of pure monopolist

A pure monopolist faces as: (w) a perfectly elastic demand for its product because it can't affect market price. (x) a perfectly inelastic demand for its product. (y) the market demand curve for its product. (z) a constant marginal cost curve.

Q : Demand Curve when price is cut I have a

I have a problem in economics on Demand Curve when price is cut. Please help me in the following question. When the price of Snapple is cut, then: (1) The lower quantity of Snapple is demanded. (2) A bigger quantity of Snapple is demanded. (3) Demand for the Snapple r

Q : Nonexistent market supply and power

HoloIMAGine has patented a holographic technology which creates 3-D photography obtainable to consumers. There is a market supply curve for HoloIMAGine technology: (w) nonexistent since price-maker firms simultaneously set prices as well as quantities

Q : Social Welfare and Labor Market

The labor market functions inefficiently when labor is hired only up to a point where, for last worker: (1) VMP = w. (2) VMP minus MRC surpasses zero and is maximized. (3) P x MPPL = w. (4) Added net revenue equivalents added net cost.

Q : Explain about marginal revenue Marginal

Marginal revenue is: (w) similar as price for a purely competitive firm. (x) defined as the change in total revenue while an additional good is sold. (y) always equated to MC when a firm wants to maximize profits. (z) all of the above.

Q : Define Price discrimination Price

Price discrimination: The Price discrimination is a situation whenever a monopolist charges distinct price from various buyers of the similar product. This is usually done to maximize profits.

Q : Easily enter or exit the market in the

This graph depicts a short run situation while long run equilibrium has been achieved for a firm along with some market (price-making) power when the firm cannot price discriminate and: (w) has explicit costs but no i

Q : Personal discrimination Personal

Personal discrimination: (1) may impede economic discrimination. (2) fosters wage, employment, occupational, and human capital discrimination. (3) causes housing prices to exceed levels affordable by the poor. (4) is the only cause of occupational dis

Q : Income elasticity of demand Income

Income elasticity of demand: Income elasticity of demand is the degree of receptiveness of demand to the modification in income.

Discover Q & A

Leading Solution Library

Avail More Than 1424496 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1927993
Asked

3,689

Active Tutors

1424496

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment