Concept explainers
Income Tax In a certain country, income tax T is assessed according to the following function of income x:
- (a) Find T(5,000), T(12,000), and T(25,000).
- (b) What do your answers in part (a) represent?
(a)
To find: The value of function
Answer to Problem 76E
Income tax at
Explanation of Solution
The given function is,
Function for income 5,000 is,
So, income tax at
Function for income 12,000 is,
Substitute
So, income tax at
Function for income 20,000 is,
Substitute
So, income tax at
Hence, income tax at
(b)
To Explain: Answer represented in part (a).
Answer to Problem 76E
Income tax is increasing simultaneously with income.
Explanation of Solution
From part (a),
Income tax at
Income tax is increasing simultaneously with income.
Chapter 2 Solutions
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