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Understanding marginal and average tax rates Consider the imaginary nation of Leguminia, whose citizens only consume beets. Assume that the price of beets is $

Understanding marginal and average tax rates
Consider the imaginary nation of Leguminia, whose citizens only consume beets. Assume that the price of beets is $1 each. The government of Leguminia has developed two different tax schemes, the details of which are outlined below:
Plan x
Consumption up to 1,000 beets is taxed at 50%.
Consumption higher than 1,000 beets is taxed at 20%.
Plan Y
Consumption up to 2,000 beets is taxed at 15%.
Consumption higher than 2,000 beets is taxed at 35%.
Use the Plan x and Plan Y tax schemes to complete the following table by deriving the marginal and average tax rates under each tax plan at the consumption levels of 500 beets, 1,200 beets, and 2,500 beets, respectively.
\table[[\table[[Consumption Level],[(Quantity of beets)]],Plan x,Plan Y
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