Neco Model Questions Vol1 2023 Economics Question 11
Practice objective / multiple choice question 11 from the 2023 Neco Model Questions Vol1 Economics examination.
The government's tax revenue function is assumed to be \(T = aY - bY^{2}\), where \(Y\) is the national income (in billions of naira) and \(T\) is tax revenue (in billions of naira). When \(Y = 200\) the revenue is 30 bn, and when \(Y = 300\) the revenue is 42 bn. Determine the marginal tax rate (the derivative \(dT/dY\)) at an income level of \(Y = 250\). Express your answer as a percentage.
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About This Question
This is Neco Model Questions Vol1 2023 Economics Question 11. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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