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Author Question: Refer to Figure 15-17. An economics professor argues: I think the course should be priced so as to ... (Read 350 times)

corkyiscool3328

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on: Jun 29, 2018
Refer to Figure 15-17. An economics professor argues: I think the course should be priced so as to achieve economic efficiency. How much profit (or loss) will the college make on the course if it charges this price?
 
  A) -2,592,000 B) -1,080,000 C) 0 D) 450,000

Question 2

If you pay 14,000 in taxes on an income of 125,000, and 17,400 in taxes on an income of 144,000, what is your marginal tax rate? Show your work.
 
  What will be an ideal response?


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owenfalvey

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Marginal tax rate = (17,400 - 14,000 )/(144,000 - 125,000 ) = 0.179 or 17.9 percent.


corkyiscool3328

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

dyrone

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Reply 3 on: Yesterday
Wow, this really help

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