Construction Management, 5th Edition
Construction Management, 5th Edition
5th Edition
ISBN: 9781119425731
Author: Daniel W. Halpin
Publisher: WILEY
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Chapter 6, Problem 1RQE
To determine

Explain marginal tax rate.

Expert Solution & Answer
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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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