The Table Given Below Records the Total Utility Derived from the Consumption

question 116

Multiple Choice

The table given below records the total utility derived from the consumption of avocados. Table 6.2

- According to Table 6.2,the marginal utility of the third avocado is _____.

• A)12
• B)8
• C)48
• D)18

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Definitions:

Taxable Income

The portion of an individual’s or entity’s income that is subject to income tax after all deductions and exemptions.

Progressive

A system or policy where the level of contribution or effort increases with some measure of capacity, such as a progressive tax system where higher income earns pay a higher rate.

Proportional

Relating to or denoting a relationship where elements vary together at a constant rate and a change in one element results in a corresponding change in another.

Regressive

A term describing a tax system where the tax rate decreases as the taxable amount increases, placing a greater relative burden on lower income earners.