Explain marginal tax rate.

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Answer 1

Question

Chapter 6, Problem 1RQE

To determine

Explain marginal tax rate.

Expert Solution & Answer

Explanation of Solution

Explain the term marginal tax rate as follows:

The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.

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Answer 2

Question

Chapter 6, Problem 1RQE

To determine

Explain marginal tax rate.

Expert Solution & Answer

Explanation of Solution

Explain the term marginal tax rate as follows:

The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.

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Answer 3

Question

Chapter 6, Problem 1RQE

To determine

Explain marginal tax rate.

Expert Solution & Answer

Explanation of Solution

Explain the term marginal tax rate as follows:

The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 6, Problem 1RQE

To determine

Explain marginal tax rate.

Expert Solution & Answer

Explanation of Solution

Explain the term marginal tax rate as follows:

The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 6, Problem 1RQE

To determine

Explain marginal tax rate.

Expert Solution & Answer

Explanation of Solution

Explain the term marginal tax rate as follows:

The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.

Answer 6

Chapter 6, Problem 1RQE

To determine

Explain marginal tax rate.

Expert Solution & Answer

Explanation of Solution

Explain the term marginal tax rate as follows:

The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.

Answer 7

Chapter 6, Problem 1RQE

To determine

Explain marginal tax rate.

Answer 8

Expert Solution & Answer

Explanation of Solution

Explain the term marginal tax rate as follows:

The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.