--%>
Assignment Help - homework help

Diminishing the Marginal Utility of Income

The additional dollar of income would be most probable to mean more to a usual poor individual than to a rich one if: (i) Efforts to raise income are proportional to the value of additional dollar earned. (ii) Each and every individual had similar total utilities from each and every possible income. (iii) Everyone had similar resources and equivalent opportunities to sell them. (iv) No ‘dead weight’ losses were acquired in transferring the funds from wealthy to the poor.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Nondiscriminating monopoly Tell answer

    Tell answer of this question.Refer to the following data for a nondiscriminating monopolist. At its profit-maximizing output, this firm will be operating in the: 1) perfectly elastic portion of its demand curve. 2) perfectly inelastic portion of its demand curve. 3)

    		•
  • Q : Determine equilibrium by Price Ceilings

    Between the predictable results while government sets a maximum price below equilibrium are: (1) shortages. (2) queues. (3) black markets and corruption. (4) economic inefficiency. (5) All of the above.

    Q : Income Elasticities of Demand Question:

    Question: (a)  Suppose the income elasticity of demand for pre-recorded music compact disks is +4 and the income elasticity of demand for a cabinet maker's work is +0.4.  Compare the impact on pre-recorde

    		•
  • Q : Increases in market demand and resource

    If increases in market demand cause resource prices to raise, that resulting in higher average as well as marginal costs, an industry is: (i) experiencing diseconomies of scale. (ii) unprofitable in the long run. (iii) probably a natu

    		•
  • Q : Economic profit in the short run by

    This illustrated graph is most consistent along with the environment confronted through a: (w) purely competitive firm which makes economic profit within the short run. (b) monopolistically-competitive firm into long run equilibrium. (c) firm along with oligopoly powe

    		•
  • Q : Problem regarding Principal Agent The

    The baseball manager, whose players decline to bunt occasionally, rather always swinging for the homeruns, faces a: (i) Second-mover drawback. (ii) Prisoner’s dilemma. (iii) Principal-agent problem. (iv) Grim strategy. Can so

    		•
  • Q : Attract new firms by economics profits

    Economic profits within a competitive industry are signals which: (i) attract new firms into the industry. (ii) hinder innovation of new technologies. (iii) encourage inefficiency in existing firms. (iv) business conditions are deteriorating. (v) pric

    		•
  • Q : Human Capital-Specific Training Can

    Can someone please help me in finding out the accurate answer from the following question. The costs of investing human capital are most probable to be borne by the employer if the human capital is as: (1) General. (2) Marginal. (3) Generic. (4) Precise. (5) Specific.

    		•
  • Q : Restrictive monetary policy Select the

    Select the right answer of the question. A restrictive monetary policy is designed to shift the: A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward

    		•
  • Q : Middle relative income define by Census

    The Department of the Census defines middle relative income as experienced while a family: (w) has adequate income to buy the fundamental food clothing and shelter required for survival. (x) would like to enhance their personal welfar

    		•