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Burgers may have externalities. Please read Mark Bittman's opinion piece in the New York Times as an introduction to this topic. http://www.nytimes.com/2014/07/16/opinion/the-true-cost-of-a-burger.html 5. President Warren

Burgers may have externalities. Please read Mark Bittman's opinion piece in the New York Times as an introduction to this topic. http://www.nytimes.com/2014/07/16/opinion/the-true-cost-of-a-burger.html

5. President Warren decides to implement a Pigouvian burger tax/subsidy.

a. How much should the tax be in dollars?

b. Using information from the article estimate the total tax revenue collected. Is this an upper bound or a lower bound (assume the Pigouvian tax numbers are comprehensive)?

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