Problem

Economics: Income Tax The following function expresses an income tax that is 10% for...

Economics: Income Tax The following function expresses an income tax that is 10% for incomes below $5000, and otherwise is $500 plus 30% of income in excess of $5000.

a. Calculate the tax on an income of $3000.

b. Calculate the tax on an income of $5000.

c. Calculate the tax on an income of $10,000.

d. Graph the function.

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