Family Name: Given Name: Student #: In the following diagram, Dave's budge line is presented along with an indifference curve from Dave's indifference map. Use the information in the diagram to solve the following questions. 1. Dave chooses to work hours and earns an income of $_ 2. Suppose that the Canadian government taxes income at flat rate of 33.3% with no personal exemption. On the diagram below, show Dave's after tax budget line. 3. Under the income tax, Dave chooses to work 8 hours. Draw an indifference curve consistent with this choice. 4. The tax revenue raised by the income tax is $_ 5. Show on the graph the equivalent variation of the total burden of the tax. (use a ruler) EA 360 320 F 280 240 200 160 120 Uo 40 UI 2 4 6 8 10 12 14 16 18 20 22 24 Hours of Leisure