Use the Table Below to Choose the Correct Answer

question 36

Multiple Choice

Use the table below to choose the correct answer.
For the income range illustrated, the tax shown here is

• A)regressive.
• B)proportional.
• C)progressive.
• D)progressive up to $20,000 but regressive beyond that.

---

Definitions:

Short-Run Profits

Earnings that occur when a firm can cover its variable costs, occurring in a period short enough that at least one input is fixed.

Diversity

The representation and inclusion of individuals from a variety of backgrounds, perspectives, and experiences in a group or organization.

Tacit Collusion

An unspoken, non-explicit agreement among competitors to maintain prices at a certain level or to not compete on certain aspects, without direct communication.

Few Firms

A market condition characterized by a small number of companies, often leading to an oligopolistic competition where each firm's actions can significantly impact the market.