A certain country uses a progressive tax system. The amount of tax consists of a linear part proportional to the income and a nonlinear part depending on the income by a power law. The total amount of tax is determined by the formula T(W)=aW+(bW+c)p, where W is the income; p is the exponent, a,b,c are some positive numbers. At what level of income the tax rate will be minimal?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
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Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
A certain country uses a progressive tax system. The amount of tax consists of a linear part proportional to the income and a nonlinear part depending on the income by a power law. The total amount of tax is determined by the formula
T(W)=aW+(bW+c)p,
where W is the income; p is the exponent, a,b,c are some positive numbers. At what level of income the tax rate will be minimal?
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