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ECON: MICRO4 (New, Engaging Titles...

4th Edition
William A. McEachern
Publisher: Cengage Learning
ISBN: 9781285423548
BuyFind

ECON: MICRO4 (New, Engaging Titles...

4th Edition
William A. McEachern
Publisher: Cengage Learning
ISBN: 9781285423548

Solutions

Chapter
Section
Chapter 3, Problem 3.10PA
Textbook Problem

(Tax Rates) Suppose taxes are related to income as follows:

Income Taxes

$1,000

$200

$2,000

$350

$3,000

$450

a. What percentage of income is paid in taxes at each level?

b. Is the tax rate progressive, proportional, or regressive?

c. What is the marginal tax rate on the first $1,000 of income?

The second $1,000? The third $1,000?

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