If the Utility Function (U)between Bananas (B)and Jam (J)can Be

question 100

Multiple Choice

If the utility function (U) between bananas (B) and jam (J) can be represented as U = 3ln(B) +4ln(J) the marginal utility of jam equals

• A) 4B.
• B) 3B/J.
• C) 4/J.
• D) B/J.

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Definitions:

Taxable Income

The portion of an individual's or corporation’s income that is subject to taxes according to the laws and regulations of a particular jurisdiction.

Total Tax

The complete amount of tax owed by an individual or entity to the government within a specified period.

Progressive Tax

A tax system where the tax rate increases as the taxable amount increases, imposing a higher percentage rate on the wealthy.

Income Tax

A tax levied by governments on individuals' or entities' income, used to fund public services and governmental activities.