Refer to Table 18-9. Sylvia is a single taxpayer with an income of $70,000. What is her marginal tax rate and what is her average tax rate?
A) marginal tax rate = 8%; average tax rate = 19.3%
B) marginal tax rate = 30%; average tax rate = 22.5%
C) marginal tax rate = 20%; average tax rate = 30%
D) marginal tax rate = 30%; average tax rate = 30%
B
Economics
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What would happen in the market for knee replacement surgery if insurance companies started to cover a smaller portion of the cost of the surgery?
A) Supply will decrease, but this will not shift the demand curve. B) Demand will decrease and supply will increase. C) Demand and supply will both decrease. D) Demand will decrease, but this will not shift the supply curve.
Economics
Cross elasticity measures the consumer's change in demand brought about by a change in income
Indicate whether the statement is true or false
Economics