Illustrate what would it raise more money than today

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Reference no: EM1348708

Suppose the government currently raises $100 million through a 1 cent tax on widgets, and another $100 million through a 10 cent tax on gadgets. If the government doubled the tax rate on widgets and eliminated the tax on gadgets, would it raise more money than today, less money, or the same amount of money? Explain.

Reference no: EM1348708

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