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Author Question: Equity of TaxationThe graph shows the demand (D) and supply (S) in the labor market, where P ... (Read 5 times)

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Equity of Taxation

The graph shows the demand (D) and supply (S) in the labor market, where P represents the wage rate and Q represents the number of hours worked per week.
Assume that P1=$18.50, P2=$57.25, P3=$81.75, Q2=25, and Q3=47. Suppose the government decides to levy an income tax that shifts the supply curve to Stax. What is hourly tax? The worker pays ________ percent of the tax and the employer pays ________ percent of the tax.
Please round your final answer to two decimal places.
◦ $24.5, 100%, 0%
◦ $63.25, 61.26%, 38.74%
◦ $24.5, 0%, 100%
◦ $63.25, 38.74%, 61.26%

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Marked as best answer by on Nov 23, 2022


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Reply 2 on: Nov 23, 2022
Wow, this really help


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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it


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