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If someone told you that the marginal and average tax rates both increase each time taxable income increases, would you agree? If you disagree, what is the reason?

a) I agree.

b) I disagree because marginal tax rates increase and decrease as taxable income increases; average tax rate increases consistently as taxable income increases.

c) I disagree because average tax rates increase and decrease as taxable income increases; marginal tax rate increases consistently as taxable income increases.

d) I disagree because both tax rates increase and decrease as taxable income increases.

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  • Category:- Accounting Basics
  • Reference No.:- M939699

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