The correct answer is C.) Monopolistic competition.
Answer: View of common sense of ones obligations/duty towards other people.
Explanation:
According to the theory of utilitarians, increasing the happiness and right actions should be done for the affected or suffering person. As a duty of a person towards their close ones, he/she should create the atmosphere of well being by acknowledging the interest of other people.
According to the situation mentioned in question, an individual doing party on the basis of obligation to create happiness for his/her grandmother instead of meeting her at her dying stage indicates view of common sense of performing duty for suffering people in terms of utilitarians.
The descriptions of Marx and Engel’s that are still true now is overproduction.
Overproduction refers to the situation where companies produce more product than the market actually need. (which eventually would be discarded/thrown away). If the resources in the country is managed efficiently, the market wouldn't have overproduction while still having some civilians starved and jobless.