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QUESTION
When a person's income increases from $40,000 to $50,000 a year and tax payments increase from $3,000 to $6,000. What is the person's marginal tax
When a person's income increases from $40,000 to $50,000 a year and tax payments increase from $3,000 to $6,000. What is the person's marginal tax rate?
When a person's income increases from $40,000 to $50,000 a year and tax payments increase from $3,000 to$6,000. What is the person's marginal tax rate?Solution:Increase in income = 50000-40000 =...