Ethan and Mia Are Married and File a Joint Tax

question 68

Multiple Choice

Ethan and Mia are married and file a joint tax return.Their taxable income is $200,000 in 2019.What is their marginal tax rate?

• A)10%
• B)12%
• C)22%
• D)24%

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Definitions:

Firm Interest

The commercial or financial concerns and objectives of a business organization.

Socially Optimal

A condition or level of operation where social welfare is maximized, considering all costs and benefits to society.

Marginal Cost

The rise in total expenses incurred from the production of an extra unit of a product or service.

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.