Which one of the following is based on the idea that the marginal ...

[s.tung]

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.

[softEldritch]

Answer to Question 1

a

Answer to Question 2

c

[s.tung]

Thanks for the timely response, appreciate it

[covalentbond]

Gracias!