Authors libby rittenberg 838
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12. The table on federal income tax rates facing various income groups
suggests that the marginal tax rate in the United States has fallen
since the 1993–1996 period used in the study of marginal tax rates
and labor supply discussed in the Case in Point essay. What would
your prediction be as to how this reduction in the marginal tax rate
would affect the quantity of labor supplied in the United States?
13. Given that we cannot have a perfectly accurate count of the votes in
any election, is there any point in having elections at all?
NUMERICAL PROBLEMS
1. In an effort to beautify their neighborhood, four households
are considering leasing a small section of vacant land for a
park. For a monthly leasing fee, the owner of the vacant land
is willing to arrange for some of the maintenance and to make
the park available only to the four households. The demand
curves for the four households (A, B, C, and D) wanting
parkland are as follows (all demand curves are linear):
Acres of Parkland Demanded per Month
Price per month
A
B
C
D
$100
0
0
0
0
$75
1
0
0
0
$50
2
1⅓
0
0
$25
3
2⅔
2
0
$0
4
4
4
1
2. Draw the demand curves for the four neighbors, and show the
neighborhood demand curve for parkland.
Attributed to Libby Rittenberg and Timothy Tregarthen
Saylor URL: />
Saylor.org
838
