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Government wanted to raise more revenue

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Reference no: EM131395299

Consider 2 goods: yachts and vegetables. For each good, think of 2 markets: the market for the good itself, and the labor market for people producing those goods. Suppose that the government is considering a 10% tax on yachts and on vegetables.

  • In which market for the 2 goods should the consumers have the lesser incidence of the tax?
  • Which good should be taxed if the government wanted to minimize effects on employment?
  • Suppose that the amount of revenue (P*Q) of yachts and vegetables was the same in the economy. Which should be taxed 10% if the government wanted to raise more revenue?

Reference no: EM131395299

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