The marginal tax rate is
A) the amount of taxes paid as a percentage of gross domestic product (GDP).
B) the amount of per-capita taxes paid.
C) the amount of taxes paid as a percentage of income.
D) the fraction of each additional dollar of income that must be paid in taxes.
Question 2
The slope of an isocost line ________ and equals the negative of ________.
A) increases as we move down the line; the ratio of input prices
B) is constant; the ratio of input prices
C) is constant; the ratio of the marginal products
D) decreases as we move down the line; the ratio of the marginal products
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