Which of the following is the most correct?

Question options:

Question $12$ options:

a$.$ Marginal and average tax rates are of equal importance to investors.

b$.$ Average tax rates are more relevant for investors versus marginal tax rates.

c$.$ Marginal tax rates are more relevant for investors than average tax rates.

d$.$ Marginal tax rates are more relevant for investors than average tax rates because of the impact on incentives.