Question

In theory Utilitarianism maximizes society's welfare by? A. Allocating resources to the poorest members of the...

In theory Utilitarianism maximizes society's welfare by?

A. Allocating resources to the poorest members of the populations

B. Continually, reallocating resources to those with the lowest marginal utilities

C. Continually, reallocating resources to these with the highest marginal utilities

D. Answer (a) and (b)

Homework Answers

Answer #1

Answer option C)

utilitarianism was proposed by Bentham, & social welfare is defined as the sum total of individual utility of all members of society, with equal weight assigned to each individual utility.

& Believed on principle of diminishing MU, thus an extra 1 dollar provide more additional utility to a poor , than to a rich

thus income is reallocated in way that MU is equalized across all individuals

Thus reallocation is done in way that utility loss of rich, is more than compensated by utility gain of poor,as these are with highest MU

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. In the ModiglianiLife-Cycle Theory, if the number of years to retirement increases, life resources will...
1. In the ModiglianiLife-Cycle Theory, if the number of years to retirement increases, life resources will . and current consumption will . a. increase; decrease b. increase; increase c. decrease; increase d. decrease; decrease. 2. In equilibrium, the real rental price of capital is equal to (a) the cost of capital (b) the marginal product of capital (c) the price of output (d) the interest rate 3. The marginal cost of capital is determined by all of the following EXCEPT,...
1) One of the disadvantages of our current welfare system is that A) it works in...
1) One of the disadvantages of our current welfare system is that A) it works in the opposite direction of Rawl's view of justice. b) it provides incentives for the poor not to work. c) it gives the poor too much money. D) it is biased in favor of rich people. 2) Say 6 homogenous consumers have individual willingness to pay P = 20 - 4Q. If the marginal cost of providing Q is 6Q, the optimal amount of Q...
Please Check the wrong ones! 1. Which of the following best describes scarce resources? a. Resources...
Please Check the wrong ones! 1. Which of the following best describes scarce resources? a. Resources for which the quantity that people want exceeds the quantity that is freely available b. Resources that most people cannot afford to buy c. Resources for which the quantity demanded is the same for all economic agents d. Resources that can only be distributed efficiently by the government 2. Which of the following statements is true of models? a. It is more important for...
"Efficiency" refers to a) producing output using the least amount of labor b) producing output using...
"Efficiency" refers to a) producing output using the least amount of labor b) producing output using the least amount of capital c) producing as far inside the production possibilities frontier as possible d) producing only one out of many possible commodities e) getting the maximum possible output from available resources 2) A normative economic statement a) is a hypothesis used to test economic theory b) is a statement of fact c) is a statement of what ought to be, not...
Part I Define the following ethical perspectives in your own words. A minimum of three sources...
Part I Define the following ethical perspectives in your own words. A minimum of three sources must be utilized and cited properly with in-text citations and a reference list. Avoid using direct quotes. If you summarize or paraphrase information in your own words, you must cite sources to provide credit for the ideas and concepts. A = Rule utilitarianism B = Kantian ethics C = Virtue ethics D = Care ethics E = Social contract ethics F = Subjective relativism...
1. Compared with a perfectively competitive market a monopoly is inefficient because                    a. it raises...
1. Compared with a perfectively competitive market a monopoly is inefficient because                    a. it raises the market price above marginal cost and produces a smaller output.             b. it produces a greater output but charges a lower price.             c. it produces the same quantity while charging a higher price.             d. all surplus goes to the producer.             e. it leads to a smaller producer surplus but greater consumer surplus. 2. The demand curve of a monopolist typically...
[1] The basic problem that gives rise to the study of economics is the need to:...
[1] The basic problem that gives rise to the study of economics is the need to: A) control the effects of actions by foreign governments. B) be sure all the goods and services produced in an economy get sold. C) use scarce resources to satisfy people's unlimited material wants and needs. D) control people's tastes and wishes so that the available resources can produce all the goods and services they want. [2] Economics is concerned with: A) earning as much...
step by step solution for the below question please Flag this Question Question 11 pts What...
step by step solution for the below question please Flag this Question Question 11 pts What is the difference between positive economics and normative economics? Group of answer choices Positive economics deals with dynamic systems, while normative economics focuses on static systems. Normative economics deals with how the world actually works, whereas positive economics focuses on what people ought to do. Positive economics requires making value judgments, while normative economics relies solely on factual statements. Normative economics applies in cases...
Juanita is deciding whether to buy a skirt that she wants, as well as where to...
Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $129 for the skirt: Store Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department...
Please only answer the first question! The OECD is a club of the most advanced economic...
Please only answer the first question! The OECD is a club of the most advanced economic nations in the world – based on living standards and per capita income more than absolute size. Newer members include Turkey, Mexico and Hungary. China and India are not yet members despite their vast populations. Currently the OECD has 32 members. The 2009 OECD Employment Outlook discusses prospects for unemployment and possible policy responses. The evolution of unemployment depends on (a) the size of...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT