he quantity of labor required in the resource market during a specific period? Why do income inequalities exist? How are income inequalities measured?…
September 12, 2020
hich of the following accurately explains how profit is calculated?
September 12, 2020

2) Show that, if everybody has the same time endowment and wage rate, and if all consumption goods including leisure can be taxed at the same ad valorem rate, that a tax on consumption goods is equivalent to a lump-sum tax.

3) When taxes are implemented under the Ramsey rule, the percentage decrease in quantities of all goods will be the same. Using this fact, show that the relative tax rates are inversely proportional to their elasticities.

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