The Mythical Country of Januvia Imposes a Tax Based on the Number

question 62

Multiple Choice

The mythical country of Januvia imposes a tax based on the number of titanium coins each taxpayer owns at the end of each year per the following schedule:


$\begin{array}{cc}\hline \text { Number of titanium coins } & \text { Tax } \\\hline 0 -200 & \$ 500+\$ 5 \text { per titanium coin } \\ 201-500 & \$ 1,000+\$ 6 \text { per titanium coin } \\ >500 & \$ 4,000+\$ 7 \text { per titanium coin }\\\hline \end{array}$
Marvin,a resident of Januvia,owns 300 titanium coins at the end of the current year.
I.Marvin's titanium coins tax is $2,800.
II.Marvin's marginal tax rate is $6.
III.Marvin's average tax rate is $9.33.
IV.Marvin's average tax rate is $6.

• A)Statements II and III are correct.
• B)Statements I, II, and IV are correct.
• C)Statements II and IV are correct.
• D)Statements I, II and III are correct.
• E)Only statement II is correct.

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