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
a
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A cost-benefit calculation that focuses on the difference between a feasible alternative and the next feasible alternative is called:
A) marginal analysis. B) market analysis. C) Pareto analysis. D) behavioral analysis.
For a particular farmer and a single growing season, the amount of seed that is planted would be considered a variable input
Indicate whether the statement is true or false
What does the expression "There's no such thing as a free lunch" mean?
What will be an ideal response?
What are the two tasks of good leaders?
What will be an ideal response?