Suppose the tax rate on the first $10,000 income is 0 percent; 10 percent on the next $20,000; 20 percent on the next $20,00
0; 30 percent on the next $30,000; and 40 percent on any income over $80,000. family a has income of $40,000 and family b has income of $100,000. what is the marginal and average tax rate for each family? a. family
a.marginallong dash—10 percent; averagelong dash—10 percent; family
b.marginallong dash—30 percent; averagelong dash—30 percent.
b. family
a.marginallong dash—20 percent; averagelong dash—20 percent; family
b.marginallong dash—40 percent; averagelong dash—40 percent.
c. family
a.marginallong dash—20 percent; averagelong dash—10 percent; family
b.marginallong dash—40 percent; averagelong dash—23 percent.
d. family
a.marginallong dash—20 percent; averagelong dash—15 percent; family
b.marginallong dash—40 percent; averagelong dash—20 percent.
<span>Family A: marginal rate 20%, average rate 10%</span><span>
Family B: marginal rate 40%, average rate 23% </span><span>
The marginal tax rate is the rate paid on the last dollar of income; this would be whatever tax bracket the family is in. The average price is the total tax divided by the total revenue. </span><span>
Family A: </span><span> </span><span> total income $40,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), and $10,000 at 20% (tax of $2,000). The last rate paid is 20% so that is the marginal rate; the total tax paid is $4,000, divide that by $40,000 total income, that is the average rate. </span><span>
Family B: </span><span> </span><span> total income $100,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), $20,000 at 20% (tax of $4,000), $30,000 at 30% (tax of $9,000), and $20,000 at 40% (tax of $8,000). The last rate paid is 40% so that is the marginal rate; the total tax paid is $23,000, divide that by $100,000 total income, that is the average rate.</span>
Total Revenue is the total amount that is received in return on sales of goods and services.
It is calculated as Price multiply by Quantity.
If the price of a product increases the revenue would also increase ceteris paribus( all things being equal). If the price of a product was $10 and 4 units were purchased Total revenue would be $40 and if price increases to $20 and 4 units were still purchased total revenue would be $80 assuming that we’re not taking into consideration any other factor like elasticity or type of good.
The weighted-average cost per unit = $8.04 ($160,800/20,000)
b) The weighted average method of recording inventory adds up the total units and costs of beginning and current period purchased or manufactured inventory. The total costs are divided by the total units to obtain the weighted-average cost per unit.
yes, there is no separation between the administration and ownership in a partnership.
the partnership contract stipulates which partners have the decision making ability and which partners don't. We cannot say specifically that limited partners have no say in decision making.
Moreover, the control of the partnership is not based on the amount invested like in corporations. that too is based on the contract. however, in practice, yes if you have more money invested in the business, you have more influence.
