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According to Michael Porter's diamond model, which of the following factors includes the nature of domestic requirement and the sophistication of domestic customers for the industry's product or service?
Average Tax Rate
The ratio of the total amount of taxes paid to the total tax base (income, expenditure, or asset), representing the overall burden of the tax.
Marginal Tax Rate
The rate at which the next dollar of taxable income would be taxed, relevant in progressive tax systems where tax rates increase as income increases.
Federal Income Tax
An annual income tax imposed by the US federal government on individuals, corporations, trusts, and various legal entities.
Average Tax Rate
The portion of an individual's overall income that goes towards taxes, determined by dividing the sum of taxes paid by the total income of the taxpayer.
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