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d- The proponent of supply-side economics argues that cutting taxes reduces inefficiencies and has socially desirable effects. Reevaluate the main argument of supply-side economics for

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d- The proponent of supply-side economics argues that cutting taxes reduces inefficiencies and has socially desirable effects. Reevaluate the main argument of supply-side economics for polluting industries. Discuss how the relationship between the tax size and the DWL of tax will change in the presence of negative externalities. [15p]

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