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miv72 [106K]
2 years ago
7

Suppose that income tax revenues are maximized at an average (income) tax rate of 45 percent. If the Laffer curve is a correct d

iagrammatic representation of the relationship between tax rates and tax revenue, it follows that a tax rate of
Business
1 answer:
galina1969 [7]2 years ago
3 0

Answer:

-35 percent will reduce tax revenues.

-48 percent will reduce tax revenues.

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An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labor to produce its total output of 640 un
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$0.1  

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The per unit cost of a production is the sum of variable cost and fixed cost divided by the total number of units produced. The per unit cost is given by the formula:

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Variable cost = Cost of raw material = Units of raw material × Cost of each unit of raw material = 5 units × $4/unit = $20

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