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Question & Answer: Consider the table below, in which each person's marginal tax rate is constant but differs from others marginal tax rate…..

Consider the table below, in which each persons marginal tax rate is constant but differs from others marginal tax rates Christino Jarius Meg Income Taxes Paid Income Taxes Paid Income Taxes Paid $3,000 $4,000 $5,000 $600 $3,000$600 $3,000 $750 $900 $600 $850 $1,100 $4,000 $5,000 $800 $4,000 $1,000 | ss,000 S1 a. Christinos marginal tax rate is percent. (Enter your response robsided to one decimal place)

Consider the table below, in which each person’s marginal tax rate is constant but differs from others marginal tax rates. a. Christino marginal tax rate is percent. (Enter your response rounded to one decimal place.)

Expert Answer

 

Answer:

Christonio’s Marginal Tax rate is 15%

Working for the answer

Marginal Tax rate is calculated as under

Marginal Tax rate

=( changes in tax paid / changes in income) *100

Marginal Tax rate when income changes from 3000 to 4000

=((750-600) / (4000-3000) ) *100

=(150/1000)*100

=15%

Now we repeat the same calculation for when income changes from 4000 to 5000

Marginal Tax rate when income changes from 4000 to 5000

=((900-750) / (5000-4000) ) *100

=(150/1000)*100

=15%

So here we can say that marginal tax rate for Christoni is 15%

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