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In the question given below, there is a statement followed by two assumptions numbered I and II. You have to consider the statement and the following assumptions, and decide which of the assumptions is/are implicit in the statement : Statement : Equality of income throughout a community is the essential condition for maximizing the total utility which can provide total available income to the members of that community. Assumptions : (I) If extra incomes were taken from the rich and given to the poor, the total utility experienced by the community would increase (II) Equal pay for equal work

In the question given below, there is a statement followed by two assumptions numbered I and II. You have to consider the statement and the following assumptions, and decide which of the assumptions is/are implicit in the statement : Statement : Equality of income throughout a community is the essential condition for maximizing the total utility which can provide total available income to the members of that community. Assumptions : (I) If extra incomes were taken from the rich and given to the poor, the total utility experienced by the community would increase (II) Equal pay for equal work Correct Answer Only assumption I is implicit

The correct answer is Only assumption I is implicit.

Key Points

  • As the statement is emphasizing the equality of income we can assume that there exists inequality.
  • Extra income from the rich can be given to the poor so that poor can enjoy more choices that benefit their life. Hence Assumption I is correct.  
  • Assumption 2 is not valid working and pay cannot be linked with the given context, as it only talks about how to increase the total utility of the community.  

Related Questions

Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer : Statement : Equality of income throughout a community is the essential condition for maximizing the total utility which the total income available could confer on the members of that community. Assumptions : I. If extra income were taken from the rich and given to the poor, the total utility experienced by the community would increase. II. Equal pay for equal work.
Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer :

Statement : Equality of income throughout a community is the essential condition for maximizing the total utility which the total income available could confer on the members of that community.

Assumptions :
I. If extra income were taken from the rich and given to the poor, the total utility experienced by the community would increase.
II. Equal pay for equal work.
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