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CLASSIFICATION OF TAXES
Taxes can be classified on the basis of:
a. Impact of the taxes
It means on whom the tax is imposed. On the other hand, incidence of the tax refers to who had to bear the burden of the tax. In this case the taxes may be:
b. Rates of tax
The rate of tax is the percentage of the tax base to be taken in each situation. In this case the taxes may be:
Theory of Demand of managerial economics According to Siegelman andSpencer "A business firm is an economic organisation that transforms productivity sources into goods which
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Average Total Costs (ATC) This is total cost per unit of output, obtained by dividing total cost by total output i.e. ATC = Total Cost Total Outp
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