In the Following Equation, Govrev Represents Total Government Revenue in a Given

question 23

Multiple Choice

In the following equation, govrev represents total government revenue in a given year, and taxrate represents the tax rate, which can take on a value ranging from 0 to 1. govrev = 0.31 + 0.42 taxrate - 0.71 taxrate At what taxrate is govrev maximized?

• A)0.59
• B)0.30
• C)0.15
• D)0.37

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