Table 12-15 -Refer to Table 12-15. the Tax System Is

question 560

Multiple Choice

Table 12-15
-Refer to Table 12-15. The tax system is

• A)proportional.
• B)regressive.
• C)progressive.
• D)lump sum.

---

Definitions:

Output

The complete sum of products or services created by an enterprise, field, or economic entity.

Marginal Cost

The cost of producing one additional unit of a good or service, a critical concept for understanding economic decision-making and pricing strategies.

Total Cost

The complete cost of production, combining both fixed and variable costs incurred by a business in producing a good or service.

Output

The overall production of goods or services by an organization, industry, or economic body.