What is the marginal tax rate on (i) The first $6000 of wages?

Enter yo Show more Suppose the welfare benefit formula is Benefit = $4800 0.67 (Wages > $6000) Instructions: Enter your responses as a percent to the nearest whole number. (a) What is the marginal tax rate on (i) The first $6000 of wages? % (ii) Wages above $6000? % (b) How large is the benefit if wages equal Instructions: Enter your responses rounded to the nearest whole number. (i) $0? $ (ii) $6000? $ (iii) $11000? $ (c) What is the breakeven level of income in this case? Instructions: Enter your response rounded to two decimal places. $ Show less

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