QUESTION 21 t the govermment taxes only one good and gives back to people the ta

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QUESTION 21 t the govermment taxes only one good and gives back to people the tax revenue then ot the effect b people wil be better off as without any tax because of the income and subsitution effect e c. people will be the same as without any tax because of the income effect d people wil be worse off as without any tax because of the income effect QUESTION 22 You currently using three printing presses and five employees to print 100 sales manuals per hour If the MRTS at this point is -0.5, then you would be willing to exchange employees for two more printing presses in order to maintain curent output b. four three QUESTION 23 MP248, P1 158 and 1-4865 and a tari44% on x2 Save All

Explanation / Answer

As per chegg guidelines only first question is answered

Kindly ask rest of the questions in separate post.

21.

Correct option: (b)

Reason: People will be better off under this scheme because they will be paying tax on only one good and will be receiving all the tax revenue. This will help them increase consumption of all goods because of income and substitution effect. This will make consumers increase their demand for all other goods and services.

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