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Author Question: Refer to Scenario 19.1 below to answer the question(s) that follow. SCENARIO 19.1: An individual ... (Read 51 times)

Kthamas

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on: Apr 19, 2019

Question 1

Refer to Scenario 19.1 below to answer the question(s) that follow. 


SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%. 





Refer to Scenario 19.1. When this person earns $60,000, her average tax rate is


◦ 5%.
◦ 20%.
◦ 25%.
◦ indeterminate from this information.

Question 2

Refer to Scenario 19.1 below to answer the question(s) that follow. 


SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%. 





Refer to Scenario 19.1. When this person earns $70,000, her tax payment would be


◦ $2,500.
◦ $14,500.
◦ $17,500.
◦ indeterminate from this information.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Kthamas on Apr 19, 2019

vkodali

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Reply #1 on: Apr 19, 2019
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Kthamas

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Reply #2 on: Apr 19, 2019
Thank you!


vkodali

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Reply #3 on: Apr 19, 2019
Always glad to help...


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