Consider the economy of Citronia, where citizens consume only oranges. Assume that oranges are priced at $1 each. The government has devised the following tax plans: 3. Understanding marginal and average tax ratesConsider the economy of Citronia, where citizens consume only oranges. Assume that oranges are priced at $1 each. The government has devised thefollowing tax plans:Plan APlan B• Consumption up to 1,000 oranges is taxed at 5%.• Consumption up to 2,000 oranges is taxed at 35%.• Consumption higher than 1,000 oranges is taxed at 40%.• Consumption higher than 2,000 oranges is taxed at 10%.Use the Plan A and Plan B tax schemes to complete the following table by deriving the marginal and average tax rates under each tax plan at theconsumption level of 700 oranges, 1,400 oranges, and 2,500 oranges, respectively.Consumption LevelPlan APlan B(Quantity of oranges) Marginal Tax RateAverage Tax RateMarginal Tax RateAverage Tax Rate(Percent)(Percent)(Percent)(Percent)7001,4002,500Complete the following table by indicating whether each plan is a progressive tax system, a proportional tax system, or a regressive tax system.ProgressiveProportionalRegressivePlan APlan B

*Answer: Plan A Consumption level 700 M.T.R = 5% Marginal tax rate is the percentage of tax applied…

Answered: Plan B p to 1,000 oranges is taxed at…

Plan B p to 1,000 oranges is taxed at 5%. • Consumption up to 2,000 oranges i igher than 1,000 oranges is taxed at 40%. Consumption higher than 2,000 ora

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Thireeread tedo 10/15 Ciana martin Name: Oct 13, 2021 1) Mr. Powers went shopping for his grandson who is staying at his house. The baby is only 6 months old and is just beginning to eat food. Mr. Powers decides to buy some baby food. Mr. Powers selects two variety pack boxes of baby food costing $25.60 each box. $ 18.75. The baby bottles are taxable at 6.25% sales tax. How much money does he spend in total for the two boxes of food and the baby bottles plus tax? Mr. Powers also purchases baby bottles for
Answer this question CORRECTLY!!! Ms. Yamato’s gross pay is $2644. Her deductions total $548.30. What percent of her gross pay is take-home pay? A. 84% B. 79% C. 21% D. 18%
If a lump-sum income tax of $30 billion is levied and MPS is 0.2, the consumption schedule will shift
Solve the following problems. Super Mall paid ₱13,000 for a set of dishes. Expenses are 17% of the selling price while the required profit is 16% of the selleng price. During an inventory sale, the set of dishes was marked down by 35%. a.) What was the regular selling price? b.) What was the sale price? c.) What was the profit or loss?
Several students in the midwifery degree program have decided to collaborate and write a comprehensive resource book to inform local pregnant women and their families on midwifery care, health and wellness, and access to local programs and services. Two publishers are interested in marketing and publishing it for distribution in Calgary and the surrounding area. Both publishers anticipate retailing the book for $30. Publisher "A" offers a straight 20% royalty for each book sold. Publisher "B" offers a $4000 advance and then a royalty of 12% for each book sold. The students must make a decision between these two offers. 0 Part A. Interpret the Question and Express the problem in Mathematical Language Express the problem algebraically by writing the linear models for earnings with publisher A or B in the table below. Carefully read the descriptions of each plan above. Part B. Procedural Math To solve this problem, three different strategies are possible: algebraic, graphical, or…
Reduce salaries tax and personal assessment by 100% for the year of assessment 2023/24, with a ceiling of $3,000, benefiting 2.06 million taxpayers in Hong Kong. The deduction will be reflected in the final tax payable for the year of assessment 2023/24. Government revenue will decrease by $5.1 billion. What does 100% means?
Imperial Jewelers manufactures and sells a gold bracelet for $405.00. The company's accounting system says that the unit product cost for this bracelet is $258.00 as shown below: Direct materials Direct labor Manufacturing overhead Unit product cost $ 144 83 31 $ 258 The members of a wedding party have approached Imperial Jewelers about buying 18 of these gold bracelets for the discounted price of $365.00 each. The members of the wedding party would like special filigree applied to the bracelets that would increase the direct materials cost per bracelet by $5. Imperial Jewelers would also have to buy a special tool for $463 to apply the filigree to the bracelets. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $6.00 of the overhead is variable…
Find the maximum payment each situation can afford for a housing. a. Enrique makes $109,992 per year b. Julie makes $4589 a month c. Dean makes $1087 weekly
Imperial Jewelers manufactures and sells a gold bracelet for $408.00. The company’s accounting system says that the unit product cost for this bracelet is $259.00 as shown below: Direct materials $ 141 Direct labor 82 Manufacturing overhead 36 Unit product cost $ 259 The members of a wedding party have approached Imperial Jewelers about buying 29 of these gold bracelets for the discounted price of $368.00 each. The members of the wedding party would like special filigree applied to the bracelets that would increase the direct materials cost per bracelet by $12. Imperial Jewelers would also have to buy a special tool for $457 to apply the filigree to the bracelets. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $13.00 of the…
Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $305,000 this year. His social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and his federal income tax rate is 24%. How much estimated tax (in $) must Marc send to the IRS each quarter?