Refer to the information above. The marginal product of the fourth worker is cup

Question

Refer to the information above. The marginal product of the fourth worker is cups of espresso. 70 60 17.5 10 2.5 Refer to the information above. The value of marginal product for the first worker is .25 extra cups of espresso equal to total revenue at $31.25. 25 total cups of espresso. $1.25. unknown. Suppose the current welfare system is completely eliminated and replaced with a negative income tax. The tax credit granted to everyone is S10.000 and the tax on earnings is 25%. Refer to the above information. The equation that describes the relationship between the benefit (B). the tax rate (0.25). and earnings (E) is B = (10.000 - 0.25 xE) + E. B = 10.000 - 0.25 x E. B = 10.000 - 0.75 x E. B = 10.000-E. B = (10.000- 0.25 xE)-E.

Explanation / Answer

33 and 34 cann't be answered as mentioned above inforrmation is n't visible

35. B. B = 10,000 - 0.25*E

33 and 34 cann't be answered as mentioned above inforrmation is n't visible

Since 10,000 is the benefit which is given to everyone, hence Plus 10,000, and 25% of earnings are taken as tax then minus 25% of earings.

If you don't understand anything then comment, I'ill revert back on the same. :)

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