Question

If the tax a family pays is a function of its income y given by T(y), then T(y) is called the marginal tax rate. Characteriz

The answer should be t or not. Thank you so much!

0 0
Add a comment Improve this question Transcribed image text
Answer #1

T(y) = ty

We can find the marginal rate for the given tax function by differentiating it with respect to y:

fiр (f) IP

So, the marginal rate for given tax function is 't'.

Add a comment
Know the answer?
Add Answer to:
The answer should be t or not. Thank you so much! If the tax a family...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Washington family Income = $62,000 Average tax rate: % Marginal tax rate: Lee family Income =...

    Washington family Income = $62,000 Average tax rate: % Marginal tax rate: Lee family Income = $123,000 Average tax rate: % Marginal tax rate: Suppose that a nation decides to introduce a new income tax system with the tax brackets shown in the table. Income range Tax rate $0-$20,000 0% 31% $20,001-$39,000 $39,001-$70,000 $70,001+ 42% 50% Use the table to calculate the average tax rate and marginal tax rate for each of the families. Where applicable, round your answer to...

  • Data on before-tax income, taxes paid, and consumption spending for the Simpson family in various years...

    Data on before-tax income, taxes paid, and consumption spending for the Simpson family in various years are given below. Consu ption spending ($ 3,000 20, 000 3,500 21,350 3,700 22,07e 23,608 Before-tax income ($) Taxes paid ($) 25, 000 27,000 28,000 30,000 4,000 a. Graph the Simpsons' consumption function, then find their household's marginal propensity to consume and the intercept of the consumption function. Instructions: On the graph below, use the line tool provided. Click and drag your mouse to...

  • Use first order condition and second order condition thank you so much Тип уоu • 7. Perfectly competitive firm fac...

    Use first order condition and second order condition thank you so much Тип уоu • 7. Perfectly competitive firm faces P(Q) = inverse demand curve and its costs are given by a cost function C(Q), assuming that marginal costs are positive. Firm is also taxed at rate t per unit of output. (a) Write down the firm's profit function. Identify the choice variable, and the parameter if the firm maximizes the profit. (b) Write down the FONC for profit maximization....

  • Please help me to solve this problem. Thank you so much. 3. The manufacturing of Styrofoam...

    Please help me to solve this problem. Thank you so much. 3. The manufacturing of Styrofoam coffee cups causes damage to a local river when the manufacturing plant produces more than 500 units in a period. To discourage the plant from producing more than 500 units, the local community is considering placing a tax on the plant. The long-run cost curve for the firm 0t, where q is the number of coffee cups + tq, where q is the number...

  • Hi! Please help me on this question #41. Thank you so much! (by giving the p.m.f....

    Hi! Please help me on this question #41. Thank you so much! (by giving the p.m.f. or p.d.f.) whose the cumulative distribution function F(t) satisfies F(n) = 1 - 1 for each positive integer n. Exercise 3.41. We produce a random real number X through the following two- stage experiment. First roll a fair die to get an outcome Y in the set {1,2,...,6}. Then, if Y = k, choose X uniformly from the interval (0, k]. Find the cumulative...

  • Please show work as neatly as possible, thank you so much in advance! The auxiliary equation...

    Please show work as neatly as possible, thank you so much in advance! The auxiliary equation for the given differential equation has complex roots. Find a general solution. y" - 6y' +45y = 0 y(t) =]

  • Chapter 13 Homework 00 Data on before tax income taxes paid, and consumption spending for the...

    Chapter 13 Homework 00 Data on before tax income taxes paid, and consumption spending for the Simpson family in various years are given below. Before-tax inco ($) 25,800 27.000 28,69 Taxes paid (s) 3,00 Consumption spending ($) 20,000 21,350 22.07 23.600 4. Ono a. Graph the Simpsons' consumption function, then find their household's marginal propensity to consume and the intercept of the consumption function Instructions: On the graph below, use the line tool provided. Click and drag your mouse to...

  • Hi! Please help me with this question #1. Thank you so much! In each of Problems...

    Hi! Please help me with this question #1. Thank you so much! In each of Problems 1-6, find the expansion of f(x) in the eigenfunctions of the given Sturm-Liouville prob- lem. Compare graphs of the function and the Nth par- tial sums of the series for the given N. Also use the convergence theorem to determine what this eigen- function expansion converges to on the relevant open interval. 1. y' + y = 0; y(0) = y(2) = 0 f(x)...

  • Please answer all the questions that you can, thank you so much - How are employer-sponsored...

    Please answer all the questions that you can, thank you so much - How are employer-sponsored saving plans different from a pension plan? -What is included in Gross Pay If you are paid every two weeks (bi-weekly) how many paychecks do you get a year?  -What is the current Social Security Tax Rate and Medicare Tax Rate? -Look up the current 2020 caps for social Security and Medicare? What are they for each  -Which tax provides for medical benefits?  A....

  • Can you please show the work? Thank you so much. I really appreciate it. 3) Suppose...

    Can you please show the work? Thank you so much. I really appreciate it. 3) Suppose that an individual with income I cares about two goods, X and Y. The price of the two goods is Px and Py. Suppose an individual have the following utility function: U(X,Y)- min(X,Y) a) Find the Marshallian demand for X and Y. b) Find the indirect utility function. c) Find the expenditure function using the relationship between the indirect utility function and the expenditure...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT