Which of the following is not an assumption used in class for reaching the conclusion, using utilitarian reasoning, that income should be divided equally:
A) everybody has the same utility function
B) there is a fixed amount of income to be divided
C) marginal utility is a diminishing function of income
D) some people are more productive than others
Correct Answer:
Verified
Q2: In the economic analysis of the market
Q3: Suppose that you have complete health insurance
Q4: If the government subsidizes the health insurance
Q5: Which of the following is a reason
Q6: An individual is willing to pay something
Q7: An individual will not choose to acquire
Q8: A market participant who obeys the principles
Q9: The standard economic model assumes people are
A)rational
B)boundedly
Q10: What is the methodology of positive economics
A)models
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