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In a Torricelli barometer, a pressure of one atmosphere supports a 760 mm column of mercury. If the original tube containing the mercury is replaced with a tube having twice the diameter of the original, the height of the mercury column at one atmosphere pressure is ________ mm.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, reflecting the incremental rate applied to income in the highest tax bracket.
Average Tax Rate
The ratio of the total amount of taxes paid to the total tax base (income, expenditure, or asset), represented as a percentage.
Proportional
Characterized by or corresponding in size, degree, or intensity according to a fixed ratio or relationship.
Price Elasticity
A measure indicating how much the quantity demanded of a good responds to a change in its price, often illustrating the sensitivity of demand to price changes.
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