Answer the Question on the Basis of the Following Data

question 62

Multiple Choice

Answer the question on the basis of the following data: $$\begin{array} { c c } \text { Taxable Income } & \text { Total Tax } \\\hline\$ 1,000 & \$ 0 \\2,000 & 100 \\3,000 & 300 \\4,000 & 600 \\5,000 & 1,000 \\6,000 & 1,500\end{array}$$ The tax represented is:

• A) optimal.
• B) proportional.
• C) regressive.
• D) progressive.

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Definitions:

Section 1

Typically refers to a specific section within a legal, regulatory, or legislative document, outlining particular provisions or requirements.

Relevant Market

The specific market segment in which a particular product or service competes, considering both geographical reach and product substitutability.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes, often leading to high prices and limited consumer choice.

Relevant Market

The market in which a particular product or service competes, including potential customers and competing products.