Author Question: A goal of equality of income can be justified based on the utilitarian idea that _____. a. ... (Read 86 times)

DyllonKazuo · **on:** Jul 1, 2018

A goal of equality of income can be justified based on the utilitarian idea that _____.

a. individuals face diminishing marginal utility of income
b. social welfare functions are convex to the origin
c. rich people have more than they every could need
d. redistribution does not lead to an increased excess burden of taxation

Question 2

A perfect price discriminating monopoly

A) captures all consumer surplus.
B) creates deadweight loss.
C) increases market inefficiency.
D) decreases total welfare.