Refer to the information provided in Table 19.8 below to answer the question(s) that follow.Table 19.8Total IncomeTotal Taxes$20,000 $2,000 40,000 4,800 60,000 9,000 80,000 16,000Related to the Economics in Practice on page 393: Refer to Table 19.8. If income increases from $20,000 to $40,000, the marginal tax rate is
A. 2%.
B. 12%.
C. 14%.
D. indeterminate from this information.
Answer: C
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