Economy, asked by VidhaValliani, 2 months ago

Practical importance of the law of diminishing marginal utility:
It provides basis for progressive taxation. Progressive tax means that rate of a tax is higher for higher incomes. When income of a person increases MU of money
falls.
Please explain.​

Answers

Answered by bissue
0

Answer:

For example, an individual might buy a certain type of chocolate for a while. Soon , they may buy less and ...

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