(a) Derive an efficient commodity taxation rule (Ramsey taxation rule) (b) Now assume that there are two (unrelated) commodities x and y whose compensated price elasticities are nr = 0.25 and n, = 1. Suppose we know that I, = 60%, what should be the tax rate on commodity y? (c) In addition to above information we know that before tax consumption of commodity y is 10 units at a pre-tax price $60. What is the excess burden associated with a commodity tax on y