Author Question: According to the law of diminishing utility, _____. a. the same tax rate should be applied to every ... (Read 43 times)

mpobi80 · **on:** Jun 30, 2018

According to the law of diminishing utility, _____.
a. the same tax rate should be applied to every dollar
b. the rich people should have a lower tax rate as compared to poor people
c. the rich people should have a higher tax rate as compared to poor people
d. the total burden on the society from a tax will be less if proportional taxation is used
e. the poorer people should not be taxed at all

Question 2

If Jason's fixed cost totals 400 with variable cost per unit of 10 at a quantity of 80 units, what would his average total cost at 80 units of output equal?
a. 10
b. 14
c. 15
d. 805