Elaine's taxable income increases by $1 and her tax payment increases by $0.28. Her marginal tax rate is
A) 72 percent.
B) 28 percent.
C) 56 percent.
D) There is not enough information to answer the question.
B
Economics
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Refer to the data. If product price is $45, the firm will:
A. shut down.
B. produce 4 units and realize a $120 economic profit.
C. produce 5 units and realize a $15 economic profit.
D. produce 6 units and realize a $100 economic profit.
Economics
If government legislates a price floor that is below the equilibrium price
A. a shortage will develop. B. a black market will soon develop. C. a surplus will develop. D. market price and quantity sold will be unaffected.
Economics