Solved: What percentage of income is paid in taxes at each level, Microeconomics

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What percentage of income is paid in taxes at each level

Quesiton: (Tax Rates)Suppose taxes are related to income as follows:

Income	Taxes
$1,000	$200
$2,000	$350
$3,000	$450

1. What percentage of income is paid in taxes at each level?

2. Is the tax rate progressive, proportional, or regressive?

3. What is the marginal tax rate on the first $1,000 of income? The second $1,000? The third $1,000?

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Microeconomics: What percentage of income is paid in taxes at each level

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