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Question: 2 Assume that in a given country, tax revenues, T , depend on income, I , according to the formula T = -4000+ 0.2

Question: 2

Assume that in a given country, tax revenues, T, depend on income, I, according to the formula

T = -4000+ 0.2I

Required:

You are to fill the given table given the level of income.

Income Tax Liability Average Tax Rate Marginal Tax Rate

$2,000

3,000

5,000

10,000

30,000

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