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On a related issue with regard to utilitarianism: We do not always think before we react to a situation, and this situation really shows how the utilitarian approach is deep inside of us!! We could say that any type of utilitarian perspective requires a degree of justification, and its impacts the way that we react to a given situation!! No matter what, someone is going to justify the ethics of their behavior, that is, if they feel that their behavior is okay or needed to take place.
This brings into a very important example regarding the justification of perhaps unethical behavior: Could we also state, therefore, that utilitarianism is one of the foundational philosophies of our entire society -- that is, self-sacrifice?
how you think understanding market structure helps the decision makers in that company to make more effective decisions.
Two firms (A and B) are planning to produce a new soft drink for the summer. The soft drinks produced by the two firms can differ only in the level of sugar, aside from that they will be exactly equal. What prices will firms set in equilibrium? To ge..
Which would be the most accurate statement with respect to our chemical industry?
Manufacturer A is starting to make Gismos at an initial production cost of $95 for the first unit and has been lowering the cost with a learning rate of 79 percent. Manufacturer B also started this year with an initial production cost of $288/unit wi..
Think of an example of the principal-agent that you experienced first-hand or read or heard about. What factors led to the problem? Were there serious adverse outcomes arising from the problem? Based on the course material, what suggestions can you o..
When is international trade an opportunity for workers? When is it a threat to workers? What is meant by the term industrial policy? How do governments attempt to create comparative advantage in sunrise sectors of the economy? What are some of the pr..
Which of the following statements best captures the concept of deadweight loss?
What effect does expansionary monetary policy (under flexible exchange rates) have on interest rates, inflation and output? Monetary policy is more effective with flexible exchange rates (T OR F ) ? Please explain What effect does expansionary fiscal..
A person enjoys the consumption of hamburgers and fries. On a weekend this person has $20 to spend. Each hamburger costs $4 and each unit of fries costs $2. Calculate the integer combinations of hamburgers and fries that this person can consume that ..
Consider the production function q=4L^.3K^.8. K is not fixed in the long run. Graph the isoquant for Q=4. Identify and label 3 points on the graph. Calculate MRTS and determine slope of the isoquant of the three points you identified. label the slope..
When considering choice architecture, a nudge:
What was the absolute amount of increase in real income? - Make your calculations of the percentage change in real income and the absolute change in real income using the approximation formula and using the more precise method with index numbers.
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