According to the VRIO framework, in order for a firm to gain a temporary competitive advantage, a resource must be at least both Valuable and rare.
Which of the following is a part of the VRIO framework?A four-pronged review of an organization's resources and long-term success indicators is provided by the VRIO Framework. It emphasizes Value, Rarity, Imitability, and Organization as its four key objectives.What does VRIO framework?
The abbreviation VRIO stands for a four-question framework that considers value, rarity, imitability, and organization when assessing an organization's capabilities and resources.What is value in VRIO framework?Value, rarity, imitability, and organization are all letters in the acronym VRIO. Businesses must examine each resource in the internal value chain to determine its worth, rarity, uniqueness, and organization.Learn more about VRIO framework here:
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Although Blue Diamond engaged in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces when it comes to its nut milk products. Blue Diamond has a(n) ____ approach to marketing environmental forces.
Although Blue Diamond engaged in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces when it comes to its nut milk products. Blue Diamond has a reactive approach to marketing environmental forces.
What is a Reactive Approach?Without proper plans for how, what, when, and whom to report difficulties, the reactive approach just addresses problems as they arise or are encountered.A reactive approach is not a sufficient plan, and it is best avoided as a strategy.It appears to be a problem that has already occurred, leaving you with little choice but to deal with it.Example: Reactive approach is feeling disappointed after a sports team loses. Reactive approach can occur when an employee or manager prioritizes meeting the needs of others over their own needs in order to responde quickly.What is Proactive Approach?Planning ahead and taking into account any issues that, should they arise, can interrupt the system's process orders is part of the proactive approach.It is about anticipating hazards in the future and taking the necessary precautions and planning to avoid them so that you don't wind up in further problems.Know more about Reactive Approach https://brainly.com/question/9381231
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Business ethics are not divorced from personal ethics, which are generally accepted principles of right and wrong governing the conduct of individuals. Our personal ethical code exerts a profound influence on the way we behave as businesspeople. Why do managers behave in an unethical manner? there is no simple answer to this question, for the causes are complex, but some generalizations can be made. Many managers have made poor ethical decisions while engaged in international business. Many of these ethical issues are rooted in the variations among nations in their political systems, law, economic development, and culture. What is considered normal practice in one nation may be considered unethical in another.
Entirely separating your personal ethics from business ethics is virtually impossible.
There are three important factors that can influence ethical decision making, which are individual, organizational, and opportunity factors. All three of these factors can weigh heavily on a person during the decision making process, especially in the work place.
He stressed that people follow ethical principles and listed following seven Social Sins: (i) Politics without Principles (ii) Wealth without Work (iii) Commerce without Morality (iv) Knowledge without Character (v) Pleasure without Conscience (vi) Science without Humanity (vii) Worship without Sacrifice.
Please check attached file for complete answer.
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To allow lower-level employees access to the corporate network while preventing them from accessing private human resources documents, you would use:
In order to give lower-level staff members access to the corporate network but bar them from seeing confidential human resources records, you would employ:a system of authorization management.
What is an authorization management system?One of the crucial elements of Management Information Systems (MIS) for the security consideration is authorization management. The Role-Based Access Control (RBAC) solution increases the security and efficiency of Authorization Management.
What is the authorization procedure?A server assesses if a client has permission to use a resource or access a file through the authorization procedure. Authentication and authorization are frequently combined so that the server can identify the client making the access request.
What is an example of authorization?Good instances of authorization include allowing specific users to have administrative access to an application or granting someone permission to download a specific file from a server.
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Why should project managers always make a plan (phase two) before executing and completing tasks (phase three)
Project managers always make a plan before executing and completing tasks because the creation of budget and setting a schedule is important for the project.
What is a project?It should be noted that a project is an activity that's engaged in to achieve a particular goal.
In this case, project managers always make a plan before executing and completing tasks because the creation of budget and setting a schedule is important for the project.
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On May 1, a tourist went on a rock-climbing trip with a rock climbing guide. While on their climb, an anchor, used to attach a climber to the climbing surface, was placed on the cliff face by the guide. However, the anchor broke loose, and the guide fell, nearly taking the tourist with him. Luckily, the tourist caught a stone outcropping, saving both himself and the guide. The guide, fearing that the anchor had failed because he had placed it negligently, entered into a written contract with the tourist providing that the guide promised to pay the tourist $200,000 in consideration for saving the guide's life, and for the tourist's promise to not bring a negligence action against the guide for his injuries related to the fall. The contract provided that the guide would pay the money by August 1. Honestly believing he had a valid negligence claim against the guide, but unwilling to pay the legal costs of bringing such an action, the tourist signed the contract. A month later, an investigation revealed that the guide had not attached the anchor negligently, and that the failure was due to a manufacturing defect of the anchor. This discovery made it clear that in the applicable jurisdiction, the guide could not have been found liable to the tourist for negligence. On August 1, the tourist demanded payment under the written contract, but the guide refused to pay. The tourist sued the guide to recover $200,000 under the contract.
Will the tourist succeed in his action?
A. No, because past acts are typically insufficient consideration.
B. No, because the tourist had no valid cause of action against the guide.
C. Yes, because the contract was in writing and signed by the guide.
D. Yes, because the tourist believed he had a valid negligence claim against the guide.
The correct option is D; Yes, because the tourist believed he had a valid negligence claim against the guide.
What is negligence claim?A allegation of negligence is perhaps one of the most frequent elements in personal injury claims. When someone behaves carelessly (or "negligently") and causes harm to another person or damage to property, this is referred to as negligence.
Reason for the success of the tourist for getting the claim is-
Because the party making the pledge is giving up a legal right, a promise not to file a lawsuit or to press a specific claim or defense in such an action typically qualifies as compensation for a settlement agreement. It's not necessary for the legal action to have a high chance of success. Alternatively, the party omitting to raise the claim or defense must believe in good faith that it may be fairly decided to be valid, or the claim or defense must actually be questionable due to uncertainty of the facts or the law. In this case, the tourist had a sincere confidence in the viability of the guide's negligence defense.Consequently, there was sufficient consideration to sustain the contract between the tour guide and the tourist.
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Top-down security analysis a. starts with the analysis of a firm. b. includes economic, industry, and company analysis. c. concentrates on the competency of the senior management of a firm. d. centers on the past performance of a firm.
Top-down security analysis includes economic, industry, and company analysis.
What is Top-down security analysis?Viewing the big picture in relation to the sectors or industries where investors wish to make investments is the goal of the top-down analysis. For the purpose of making the ultimate investing decision, detailed information and financial statements are examined after the selection of stocks and sectors.Top-down investing is a method of investment analysis that prioritizes evaluating macroeconomic issues like GDP, employment, taxation, and interest rates before focusing on microeconomic aspects like particular industries or businesses.The top-down strategy is simpler for novice investors and for those who lack the time to review a company's financials. Even in bear markets, bottom-up investing can assist investors in selecting high-performing stocks.To learn more about Security Analysis refer to:
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Businesspeople from ________ often arrive after the scheduled meeting time and prefer to spend time building personal trust before discussing business.
Latin American businesspeople frequently come after the agreed meeting time because they prefer to first spend time establishing a good relation. They also conduct meetings informally, allowing them to show up well past the appointed time.
Goals drive business communication. People inside and outside of an organization must be informed of the rules, regulations, and policies of that organization. Business communication is governed by a set of standards and guidelines. Early corporate communication was restricted to written correspondence, telephone calls, etc. However, with the advancement of technology, we now have satellite communication, cell phones, video conferencing, emails, and more to facilitate corporate communication. Effective business communication contributes to an organization's reputation-building efforts.
Any firm depends on its customers. You may maintain effective contact with your consumers and create enduring relationships if you work on developing excellent interpersonal skills.
Customers who are satisfied will promote your company. They advertise and endorse your company. They are, however, also more understanding when things don't go as planned.
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he Federal Reserve Board (FRB) found that Parson Incorporated, a newly-established financial company, violated banking laws. The company was involved in transactions that were prohibited by the United States government. Along with imposing a hefty fine, the FRB issued an order that Parson stop conducting objectionable transactions and refrain from making such transactions in the future. This order is an example of a(n)
The correct option is, cease and desist order.
Why was the Federal Reserve under Ben Bernanke considered activist?To make up for the inaction of Congress, it deployed monetary mechanisms like quantitative easing.Which of the following federal agencies protect the public from anti competitive behavior and unfair and deceptive business practices?A violation of Section 5 of the Federal Trade Commission Act, which forbids "unfair methods of competition" and "unfair or deceptive acts or practices," is generally what the FTC pursues when it comes to anticompetitive behavior.What is the purpose of the Federal Trade Commission FTC )?The government organization in charge of protecting consumers in the country and maintaining healthy corporate competitiveness. Its responsibility is to ensure sure businesses compete fairly and don't deceive customers about their goods and services.Learn more about Federal Reserve Board here:
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Foundations, universities, and other nonprofit organizations own shares in publicly held companies, whose value is dependent directly upon the ______ of those companies.
Foundations, universities, and other nonprofit organizations own shares in publicly held companies, whose value is dependent directly upon the performance and reputation of those companies.
The benefits of moral behavior in the enterprise include supporting your business to construct consumer loyalty, keeping away from felony troubles, and enticing and maintaining gifted employees.
The priority businesses have for the welfare of society, not only for their proprietors. CSR goes properly past being ethical. it's far primarily based on a dedication to integrity, equity, and recognition. Society's generic requirements of ethical behavior, that is, behaviors widely widespread by society as proper instead of incorrect.
Business ethics enhances the law with the aid of outlining suited behaviors past government control. Businesses establish enterprise ethics to sell integrity amongst their employees and advantage agree with from key stakeholders, together with buyers and consumers. at the same time as company ethics packages have come to be not unusual, the first-rate varies.
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A clause in a labor contract that required workers to be members of the union before being hired was known as a(n):
Closed-shop agreement; clause in a labor-management agreement that specified workers had to be members of a union before being hired (was outlawed by the Taft-Hartley act in 1947)
About closed-shop agreement:
In union-management relations, a closed shop is an agreement whereby an employer commits to exclusively hire—and keep in employment—people who are trade union members in good standing. Such an arrangement is made in accordance with the provisions of a work contract.
The Taft-Hartley Act of 1947 declared closed shops to be unlawful in the United States, although they still exist in actuality; they are just not mentioned in contracts. Employers who depend on unions for hiring do so.
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Suppose you paid $18.50 per share for Commerce Group Inc. common stock and sold it one year later for $24 per share. What was your holding period return if the stock paid no dividends during the year?
The answer is 29.729% .
Given,
Bought Commerce Group Inc. common stock for $18.50 per share.
Sold it one year later.
Sold Commerce Group Inc. common stock for $24 per share.
The stock paid no dividends during the year.
Since the stock did not pay any dividends during the year the formula for holding period return becomes,
Holding Period Return (HPR) = [tex]\frac{Selling price - Purchase Price}{Purchase Price}[/tex]×100
Now, substituting the given values in the above-mentioned formula we get,
= [tex]\frac{24-18.50}{18.5}[/tex]×100
= [tex]\frac{5.50}{18.50}[/tex]×100
= 29.729%
Hence, for the given scenario holding period return if the stock paid no dividends during the year is 29.729%.
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Honda recently hired twenty employees to work in various departments of the company. On the first day, all twenty had the same orientation and attended the same training and development sessions. They were most likely engaged in what form of training
They were most likely engaged in "classroom training and lectures."
what is classroom training?In the classroom training approach, a facilitator simultaneously imparts knowledge or information to a group of employees. The fact that numerous employees can study simultaneously is this training method's key benefit.
It is extremely likely that the employees underwent "classroom training" on their first day of work because Ford employed them to work in different divisions with various job roles.
The claim that all twenty of the employees attended the same training and development courses on the same day and at the same time and received the same orientation serves as additional support for this.
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8. If the price of gasoline across Brevard County gas stations increases by 8% but the quantity of gasoline purchased by Brevard County residents decreases by 2%, then gasoline is:
The answer is Inelastic.
Given,
the price of gasoline across Brevard County gas stations increases by 8%.
the quantity of gasoline purchased by Brevard County residents decreases by 2%.
The change in quantity demanded of a good or service when divided by the price change in percentage form the price elasticity of demand.
Price elasticity of demand = Percentage change in quantity demanded of gasoline ÷ Percentage change in the price of gasoline
Now, substituting the value in the above formula we get,
Price elasticity of demand = 2% ÷ 8%
= 0.25
Since the price elasticity for gasoline is less than 1 gasoline is inelastic in demand.
Hence, If the price of gasoline across Brevard County gas stations increases by 8% but the quantity of gasoline purchased by Brevard County residents decreases by 2%, then the demand for gasoline is inelastic.
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________ stocks were responsible for the huge increase in stock prices in the period between 1982 and 2000. Group of answer choices Technology Manufacturing Clothing Automobile Banking
Technology stocks were responsible for the huge increase in stock prices in the period between 1982 and 2000
Technology stocks are all stocks related to the tech sector, from semiconductor manufacturers to software vendors. Tech stocks are often leading indicators of the economy and stock markets.
The price goes up when many people want to buy (demand) rather than sell (supply) shares. Conversely, if more people want to sell than buy stock, supply will be higher than demand and prices will fall. It's easy to understand supply and demand.
The best tech stock to buy according to Billionaire KenGriffin
Advanced Micro Devices, Inc. (NASDAQ: AMD) ...Broadcom Inc. (NASDAQ: AVGO) ...Uber Technologies, Inc. （NYSE：UBER）Visa Inc.（NYSE：V）...Tesla、Inc.（NASDAQ：TSLA）Learn more about technology stocks here:https://brainly.com/question/23034218
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Which pricing tactic calls for offering three similar products, one that is lower priced and less attractive and two that are comparable but more expensive
Decoy pricing tactic calls for offering three similar products, one that is lower priced and less attractive and two that are comparable but more expensive.
What is decoy pricing?A price strategy called decoy pricing aims to "push" customers to make a decision. Customers sometimes have to choose between products with varying costs and features while making purchases. And when a business seeks to increase sales of a certain product, it frequently chooses what is known as a decoy pricing structure to sway the consumer's choice. In this instance, the "decoy" is either a product with a slightly cheaper price but much worse quality, or a product with a significantly higher price but slightly greater quality.
The attraction effect and the compromise effect are the two distinct effects on which the decoy pricing strategy is predicated.
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What is the term for the point where your business earns more money than it spends, and begins to become profitable?.
Bottom line is the point where your business earns more money than it spends, and begins to become profitable.
What is bottom line?This refers to the total amount of money that a company has made in an accounting period.
It is to be noted that bottom line statement shows the reasons that influence company's growth or net income.
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When the government makes sure that gas pumps accurately measure the amount of gas they provide, it is addressing which type of market failure
When the government makes sure that gas pumps accurately measure the amount of gas they provide, it is addressing Imperfect information. This is further explained below.
What is Imperfect information?Generally, there is a condition known as imperfect information where the parties involved in a transaction have differing information, such as when the vendor of a used automobile has more information than the buyer.
In conclusion, To deal with imperfect information, the government monitors gas station pumps to ensure they are providing the correct quantity of fuel.
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Can I Plsss get some help on this thanks
The law of demand illustrates all quantities of goods that consumers are willing and able to buy at every possible price. (third option)
What is the law of demand?According to the law of demand, the higher the price, the lower the quantity demanded by consumers and the lower the price, the higher the quantity demanded by consumers. There is an inverse relationship between price and quantity demanded
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_______ refers to determining what information is needed and how that information can be obtained efficiently and effectively. a. Secondary data b. The marketing research objective c. The management decision problem d. The marketing research problem
The Marketing Research Problem refers to determining what information is needed and how that information can be obtained efficiently and effectively.
The Marketing Research Problem
The procedure of market research is being carried out in order to solve the problem of market research. It outlines the study's goals, outcomes, issues, methodology, and anticipated findings. It also specifies the market research study's objectives.No matter how effectively a research plan is created and the following steps are carried out in a proper way, if the issue is not accurately diagnosed, study findings may be false or even harmful.These research issues aid in determining the effect that various modifications will have on the norms and procedures in place. They can thus recognize patterns in the interactions between various elements.Hence, The term "marketing research problem" refers to the process of identifying what data is required and how it can be properly and effectively collected.
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Cretia Robritti discovered that the purpose of asset allocation is to ensure that the investor is ________, generally with holdings in several different ________ of investments. Question 19 options: evenly distributed; amounts protected; denominations well diversified; classes well diversified; amounts evenly distributed; classes
Cretia Robritti discovered that the purpose of asset allocation is to ensure that the investor is well diversified generally with holdings in several different classes of investments.
Why is asset allocation necessary and what does it entail?By allocating a portfolio's assets in accordance with a person's objectives, risk tolerance, and investment horizon, asset allocation is an investment technique that seeks to balance risk and reward.
Best asset allocation strategy for your portfolio:Your portfolio's asset allocation should always be consistent with your objectives. Fourth-Generation Asset Allocation Dynamic asset allocation is another active asset allocation method. With this approach, you continuously modify the asset mix in response to changes in the economy and market conditions.
What are alternative assets?Compared to standard investments, alternative assets are investments that are comparatively more complex and less liquid (i.e., harder to purchase or sell). It's critical to realize that these somewhat sophisticated investment kinds come with higher risks and are not appropriate for all investors.
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Last year, the price of tomatoes increased by approximately 85%. Because of this increase, we would expect the ________ curve in the market for tomato sauce to ________. Select one: a. supply; shift to the left b. demand; shift to the right c. supply; shift to the right d. demand; shift to the left
We would except the supply curve in the market for tomato sauce to shift to left . correct answer is (c).
Supply curvesupply curve, in economics, graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis.
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Which person has a comparative advantage in the production of apps, and which person has a comparative advantage in the production of soccer drills
The person who has a comparative advantage in the production of soccer drills is Eli.
Who has a comparative advantage?A person has a comparative advantage of a good if he produces the good at a lower opportunity cost when compared to another person(s).
opportunity cost of producing soccer drills for Max: 20 / 5 = 4
opportunity cost of producing soccer drills for Eli : 15/9 = 1.7
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One of the most useful ways to break the glass ceiling in organizations is to _____. Select one: a. eliminate status-blind employment practices b. prevent unethical practices such as summary dismissal c. establish formal mentoring programs for minority groups d. avoid affirmative action
One of the most useful ways to break the glass ceiling in organizations is to (A) eliminate status-blind employment practices.
What is a glass ceiling?
A glass ceiling is a metaphor used to represent an invisible barrier that prevents a given demographic from rising beyond a certain level in a hierarchy. The metaphor was first coined by feminists in reference to barriers in the careers of high-achieving women.In the United States, the term is sometimes extended to include barriers to minority women's and minority men's advancement. Minority women in white-majority countries frequently face the greatest challenges in "breaking the glass ceiling," because they are at the convergence of two historically marginalized groups: women and people of color. The phrase "bamboo ceiling" was coined by East Asian and East Asian American news outlets to describe the barriers that all East Asian Americans encounter in furthering their careers.After reading all the questions option (A) is the most useful way to break the glass ceiling.
Therefore, the correct option is (A) Eliminate status-blind employment practice.
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The idea that firms will get the most for their money when they pay wages higher than the equilibrium wage is called:
The idea that firms will get the most for their money when they pay wages higher than the equilibrium wage is called optimal-wage theory.
What is optimal-wage theory?Optimal efficiency wage is one that that do occur when marginal cost of an increase in wages can be attributed to the marginal benefit associated to productivity.
Hence, idea that firms will get the most for their money when they pay wages higher than the equilibrium wage is called optimal-wage theory.
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The two types of securities offerings in the primary markets are ________ and ________. Question 14 options: initial public offerings; seasoned old issues seasoned new issues; penny stocks initial public offerings; seasoned new issues seasoned new issues; long-term bonds long-term bonds; government bills and notes
The two types of securities offerings in the primary markets are initial public offerings and seasoned new issues.
What kinds of primary markets are there?For almost every type of financial asset, there is a primary market. The primary stock market, primary bond market, and primary mortgage market are the three largest. Primary market difficulties that are most frequently encountered include: Initial public offering (IPO): the first time a corporation issues stock to the general public.
What distinguishes a primary offering from a secondary offering?The main markets are where the issuer sells securities to investors, and the secondary markets are where private investors buy and sell securities. Initial public offers (IPOs) refer to the issuer's first public sale of a security, whereas seasoned offerings refer to sales of successive securities.
Who issues securities in the primary market?Securities are directly issued by businesses to investors in the main market. Securities are issued either through an Initial Public Offering (IPO) or a secondary market transaction (IPO) The first selling of stocks made by a corporation to the general public is known as an initial public offering (IPO).
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If a corporation has S corporation status, it must pay income taxes at the corporate level. Group of answer choices True False
It is False that if a corporation has S corporation status, it must pay income taxes at the corporate level.
What is an S corporation?An S corporation is a corporation whose profits or losses are not assessed for corporate taxes.
Instead, the profits and losses of an S corporation are passed through to the business and reported on the owners' personal tax returns.
Thus, it is False that if a corporation has S corporation status, it must pay income taxes at the corporate level.
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After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only person voting for you. If the company has 650,000 shares outstanding, and the stock currently sells for $43, how much will it cost you to buy a seat if the company uses straight voting
It will cost $6,987,00 if the company uses cumulative voting.
Number of shares: 6,50,000
Share price: $43
IF THE COMPANY USES STRAIGHT VOTING:
STEP 1: If the company uses straight voting, then the number of shares it should own would be half of the shares plus one share, in order to guarantee that the enough votes are received to win the election.
Number of shares needed= (Number of shares available for voting ÷ 2) +1
Number of shares needed= (6,50,000 ÷ 2) + 1
Number of shares needed= 3,25,001
STEP 2: Total cost will be the product of share price and number of shares needed.
Total Cost = Share Price × Number of shares needed
Total Cost = $ 43 × 3,05,001
Total Cost = $ 13,115,043
It will cost $13,115,043 if the company uses straight voting.
IF THE COMPANY USES CUMULATIVE VOTING :
STEP 1: If the company uses cumulative voting, you need 1/(N+1) percent of stock plus one share to get maximum number of votes to win the election.
Percent of stock needed = [1 ÷ (N + 1)] * 100
Percent of stock needed = [1 ÷ (3 + 1)]* 100
Percent of stock needed = (1 ÷ 4) * 100
Percent of stock needed = 25%
So the number of shares purchased = (6,50,000 × 25%)
Number of shares purchased = 1,62,500
Total Cost = Number of shares purchased × Share Price
Total Cost = 1,62,500 × $43
Total Cost = $6,987,00
Therefore, we conclude that It will cost $6,987,00 if the company uses cumulative voting.
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Ashton borrows $25,000 from Amanda, who lends the money without taking an interest in collateral for the loan. Amanda is relying on Ashton's credit standing when she made the loan. In this case, what kind of creditor is Amanda
Amanda is kind of an unsecured creditor.
What Is an Unsecured Creditor?An unsecured creditor is an individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because it will have nothing to fall back on should the borrower default on the loan.
If a borrower fails to make a payment on a debt that is unsecured, the creditor cannot take any of the borrower's assets without winning a lawsuit first.
In other word, An unsecured creditor is a creditor other than a preferential creditor that does not have the benefit of any security interests in the assets of the debtor.
Therefore, we can conclude tat the correct option is A. Amanda is kind of an unsecured creditor.
Your question is incomplete, but most probably your full question was:
Ashton borrows $25,000 from Amanda, who lends the money without taking an interest in collateral for the loan. Amanda is relying on Ashton's credit standing when she made the loan. In this case, what kind of creditor is Amanda?
A) an unsecured creditor
B) a secured creditor
C) an administrative claim creditor
D) a post-petition creditor
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Which person is most likely to have the best credit score???
A) Abed was late on two car payments but paid them in full.
B) Troy defaulted on his student loan and had his wages garnished.
C) Britta pays off the full balance of her credit card on time every month.
D) Shirley filed for bankruptcy 10 years ago but has been making all credit payments on time since.
The person who is most likely to have the best credit score is Britta pays off the full balance of her credit card on time every month.
What is credit score?Credit score is a number that represents the risk a lender takes when money is borrowed by someone.
Credit Score is an expression that analyzes a person's credit level by looking at this financial conditions whether he or she will be worthy of loan or not.
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Suppose the government taxes 10 percent of the first $30,000 in income, 20 percent of the next $20,000 in income, and 30 percent of all income over $50,000. Calculate the marginal tax rate and the average tax rate for a person who earns $70,000.
The marginal tax rate and the average tax rate for a person who earns $70,000 will be $1,443 per month.
Marginal tax rateThe marginal tax rate is the amount of additional tax paid for every additional dollar earned as income. The average tax rate is the total tax paid divided by total income earned. A 10 percent marginal tax rate means that 10 cents of every next dollar earned would be taken as tax.
Average tax rateA taxpayer's average tax rate (or effective tax rate) is the share of income that they pay in taxes. By contrast, a taxpayer's marginal tax rate is the tax rate imposed on their last dollar of income. Taxpayers' average tax rates are lower — usually much lower — than their marginal rates.
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