46. Which of the following forms of income is not taxed under the personal income tax? a. Inheritance b. Capital gains c. Salaries d. Royalties e. Dividends 47. When a monopoly increases output by one unit, a. the change in revenue equals market price. b. market price does not change. c. only that unit must be sold for less than other units. d. revenue for the firm decreases. e. less must be charged for all units of output.50. The substitution effect in an individual's labor/leisure choice is that a. lower wages cause firms to operate less often. b. a higher wage makes work less necessary, so less of it is done. c. a higher wage makes work a more attractive alternative, so more work results. d. work and leisure can be substituted for one another because they are generally mutually exclusive activities. e. a lower wage makes leisure less attractive as an alternative, and less leisure is consumed