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(d) China also taxes US. citizens who live in China. They must pay c=10 or 10%. Set up an equation for China's tax revenue and

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(d) China also taxes US. citizens who live in China. They must pay c=10 or 10%. Set up an equation for China's tax revenue and calculate how much tax revenue it collects from Americans, given that the US. tax is t=15. (e) With this new Chinese tax, how much revenue is the US. government collecting? What should the U.S. government do about it? (Choose from a and b) (a) bomb China (b) negotiate an agreement to avoid these harmful externalities (f) Repeat the calculations on revenue from above except where TI(t) = 200 - 2t. Explain what is going on using the word elasticity

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