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If the tax code exempts the first $20,000 of income from taxation and then taxes 25 percent of all income above that level, then a person who earns $50,000 has an average tax rate of _______ percent and a marginal tax rate of _______ percent. a. 15, 25 b. 25. 15 c. 25, 30 d. 30. 25

Principles of Microeconomics

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If the tax code exempts the first $20,000 of income from taxation and then taxes 25 percent of all income above that level, then a person who earns $50,000 has an average tax rate of _______ percent and a marginal tax rate of _______ percent. a. 15, 25 b. 25. 15 c. 25, 30 d. 30. 25

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If the tax code exempts the first $20,000 of income from taxation and then taxes 25 percent of all income above that level, then a person who earns $50,000 has an average tax rate of _ percent and a marginal tax rate of _ percent. a. 15, 25 b. 25. 15 c. 25, 30 d. 30. 25

If the tax code exempts the first $20,000 of income from taxation and then taxes 25 percent of all income above that level, then a person who earns $50,000 has an average tax rate of _ percent and a marginal tax rate of _ percent.

a. 15, 25

b. 25. 15

c. 25, 30

d. 30. 25