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Author Question: If it costs 6.00 to go to the movies and 25.00 to go to a hockey game, Tom is maximizing his utility ... (Read 47 times)

Tirant22

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on: Jun 29, 2018
If it costs 6.00 to go to the movies and 25.00 to go to a hockey game, Tom is maximizing his utility between movies and hockey if his marginal utility of movies is 12 units and his marginal utility from hockey is 50.
 
  Indicate whether the statement is true or false

Question 2

An income tax system in which the average tax rate decreases with the level of income is called a
 
  A) progressive income tax system.
  B) proportional income tax system.
  C) regressive income tax system.
  D) flat-rate income tax system.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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zhanghao

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

C


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