tuly Tools-TipsA5. Understanding marginal and average tax ratesConsider the imaginary nation of Leguminia, whose citizens only commune beets. Assume that the price of beets is 21 sach. The goverment ofLeguminia has developed two different tax schemes, the details of which are outlined belowConsumption up to 1,000 beets is taxed at 50%Consumption higher than 1,000 beets is taced at 20%Keep the Highest/2Use the Play and Plan Flashes to complete the following table by deving the marginal and average tanconsumption levels of 500 bots, 1.200 bets and 2.500 besConsumption LevelPlan X(Quantity of bots) Harginal Tax Rate Average Tax Rate(Percent)(Percent)Planx1001,2002,500HanPlan YConsumption up to 2,000 beets is taxed at 15%Consumption higher than 2,000 bets is taved at 35%OPlan YMarginal Tax Rate(Percent)Complete the foong table by indicating whether each plan a regressive apportional tax on or a regressive tax systemProgressive ProportionalRegressiveOOOOOAverage Tax Rate(Percent)at theGrade NowSave & Continue

Citizens only consume BEETS Price of beets = $1 each Plan X: Consumption upto 1000 beets taxed at…

5. Understanding marginal and average tax rates Consider the imaginary nation of Leguminis, whose ctions only consume beets. Assume that the price of beets is 21 sach. The government of outfined below: Plan X Consumption up to 1,000 beets is tared at 50% Consumption higher than 1,000 beets is taxed at 20% Use the Play and Plan Flashes to complete the flowing table by deriving the marginal and average tax rates the consumption levels 500 bets 1.200 bets and 2.500 bets revy Consumption Level (Quantity of bots) Plan X 100 1,200 2,500 Complete the fowing table by indicating whether each plan Progressive Proportional Regressive Han Y Plan Y Consumption up to 2,000 bets is tared at 15% Consumption higher than 2.000 bets is taved at 35% Plan X Herginal Tax Rate Average Tax Rate (Percent) (Percent) Plan Y Marginal Tax Rate (Percent) Average Tax Rate (Percent)

5. Understanding marginal and average tax rates Consider the imaginary nation of Leguminis, whose ctions only consume beets. Assume that the price of beets is 21 sach. The government of outfined below: Plan X Consumption up to 1,000 beets is tared at 50% Consumption higher than 1,000 beets is taxed at 20% Use the Play and Plan Flashes to complete the flowing table by deriving the marginal and average tax rates the consumption levels 500 bets 1.200 bets and 2.500 bets revy Consumption Level (Quantity of bots) Plan X 100 1,200 2,500 Complete the fowing table by indicating whether each plan Progressive Proportional Regressive Han Y Plan Y Consumption up to 2,000 bets is tared at 15% Consumption higher than 2.000 bets is taved at 35% Plan X Herginal Tax Rate Average Tax Rate (Percent) (Percent) Plan Y Marginal Tax Rate (Percent) Average Tax Rate (Percent)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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