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LeMonte earns $239.60 each week. He lives in a state with a state income tax. If LeMonte had $9.59 taken out of his check for state tax last week, what is the state income tax rate to the nearest hundredth percent?
Total Cost
The complete amount of money spent on producing or purchasing goods and services, including both fixed and variable costs.
Output
The amount of goods or services produced by a person, machine, factory, country, etc.
Marginal Cost Curve
A graph that displays the cost of producing each additional unit, typically showing how marginal cost changes as production increases.
Average Total Cost (ATC)
The total cost of production divided by the quantity of output produced, representing the per unit cost of production.
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