Choose the Word or Phrase in [ ] Which Will

question 81

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Tax credits directly reduce a taxpayer's [taxes due | taxable income].

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Definitions:

Marginal Revenue

The additional income generated by increasing product sales by one unit.

Marginal Cost

The expense associated with manufacturing an extra unit of a product or service.

Economic Activity

Actions that involve the production, distribution, and consumption of goods and services at all levels within a society.

Marginal Cost

The expense involved in making an extra unit of a good or service.