1) There are 1 million workers in a country and average wage rate is $160 per full day. Government wants to raise revenue by labor income taxation. However, workers decrease their working time in response to higher labor income taxes. Specifically, each worker works the full day if the tax rate is 0 and cuts working hours by one percent of a day per one percentage point increase in the tax rate. Suppose the government wants to raise $30 million in labor income taxes per day. a) Write tax revenues per day as a function of labor income tax rate. b) Plot tax revenues per day as a function of labor income tax rate c) Find the two tax rates consistent with raising $30 million in tax revenue per day. d) Which tax rate should the government impose? Why?