Author Question: Which one of the following is based on the idea that the marginal utility of income diminishes as ... (Read 59 times)

s.tung · **on:** Jun 30, 2018

Which one of the following is based on the idea that the marginal utility of income diminishes as income increases?
a. Progressive taxation
b. Capital controls
c. Minimum wages
d. Price controls
e. Employee compensation regulations

Question 2

The marginal cost curve:
a. is a vertical line.
b. generally rises at first and then declines as output expands.
c. generally falls at first and then rises as output expands.
d. intersects the average variable cost curve from below at its maximum point.