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DIGRESSIVE TAX
A tax is called digressive when the higher incomes do not make a due contribution or when the burden imposed on them is relatively less.
Another way in which digressive tax may occur is when the highest percentage is set for that given type of income one which it is intended to exert most pressure; and from this point onwards, the rate is applied proportionally on higher incomes and decreasing on lower incomes, falling to zero on the lowest incomes.
Advantages of a Free Market System Incentive: People are encouraged to work hard because opportunities exist for individuals to accumulate high levels of wealth. Choice
Total Cost (TC) This is the sum of fixed costs and variable costs i.e. TC = FC + VC.
what is equi marginal concepts?
Consider the following hypothetical story: Last spring, there was an outbreak of a nasty disease known as cyclosporiasis, which was eventually traced to Guatemalan raspberries. Tog
Q. Define Profit maximisation theory? Profit maximisation theory defines that firms (corporations orcompanies) will establish factories where they see potential to achieve the
What is increasing marginal cost? Felix’s marginal cost is greater the more lawns he has previously mowed. It is, every time he mows a lawn, the extra cost of doing still anoth
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Write the forecasting techniques There are many forecasting techniques available to person assisting the business in planning its sales. Take for instance a forecasting metho
Q. What do you mean by Cost Function? Cost function is a derived function. It's derived from the production function that describes the efficient method of production at any gi
Q. Illustrate about Sales maximisation? The concept that business firms (specifically those operating in the real world) are principally goaded by the aspiration to achieve the
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