Skip to main content
My Courses Chemistry Physics Social Sciences Health Sciences
Which of the following statements about utility is true?
What is a potential benefit of achieving perfect income equality?
What is a potential effect of government intervention in income distribution on marginal utility?
What is the likely effect on total utility if income is redistributed from a wealthy individual to a poorer individual?
How does marginal utility differ between individuals with high and low income levels?
How does marginal utility change as income increases?
What does the opportunity cost of achieving greater income equality typically involve?
What is a potential role of government in balancing income equality and economic efficiency?
In an economy with two individuals, A and B, where A earns significantly less than B, what is the likely impact on total utility if income is redistributed from B to A?
If a government redistributes \$1,000 from a high-income individual to a low-income individual, and the marginal utility of money is 5 for the low-income individual and 2 for the high-income individual, what is the net change in total utility?