If your income is $50,000 . your income tax liability is $10,000 . and you paid $0.25 in taxes on the last dollar you earned, your
a. marginal tax rate is 20 percent.
b. average tax rate is 5 percent.
c. marginal tax rate is 25 percent.
d. average tax rate is 25 percent.
c
Economics
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Show in a diagram an S-curve and a 45-degree line. Are all three points of intersection stable equilibrium points? Explain
What will be an ideal response?
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