LeMonte Earns $239

question 23

Essay

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?

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Definitions:

Energy Source

A point or substance from which energy can be obtained to provide heat, light, power, or other forms of energy.

Long Run

A period in which all factors of production and costs are variable, allowing firms to adjust all inputs.

Substitute Resources

Alternative resources or inputs that can be used in production to replace other resources, helping to maintain production when some resources are scarce.

Natural Resource

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.