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Author Question: A man who thinks he would save money by driving to work rather than taking the bus, but who ... (Read 88 times)

plus1

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on: Jun 29, 2018
A man who thinks he would save money by driving to work rather than taking the bus, but who nonetheless elects to take the bus because driving in rush-hour traffic frightens him, is
 
  A) behaving inefficiently.
  B) choosing what is for him the most efficient way to commute.
  C) rejecting economic efficiency for personal reasons.
  D) wasting scarce resources.

Question 2

Differentiate between the average tax rate and the marginal tax rate.
 
  What will be an ideal response?


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Bsand8

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

B

Answer to Question 2

The average tax rate faced by a household is the total tax paid divided by total income earned. The marginal tax rate, on the other hand, refers to how much of the last dollar earned the household will pay in taxes.


plus1

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Reply #2 on: Jun 29, 2018
Thank you


Bsand8

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Reply #3 on: Jun 29, 2018
No problemo


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