1. Vertical Tax Externalities There is a federal income tax that all US. citizens must pay, regardless of where they live. Most citizens also owe a local income tax to the state or country they live in, such as Ohio or China. (a) What kind of tax externality are we studying in this scenario? (b) We can summarize the taxable income produced by a person (or a bunch of identical people) by the function TI (total tax) = 200 t. Explain why it is -t instead of +t. Suppose the equation for how much tax revenue you collect is R=(200t)*t . (c) The federal government has decided to set a tax rate of t=15, or 15%. How much tax revenue does it collect