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Suppose the government imposes a producer tax. The government is considering two alternatives: (i) one is to levy a proportional tax (0 < t <

Suppose the government imposes a producer tax. The government is considering two alternatives: (i) one is to levy a proportional tax (0 < t < 1) on the firm's profit, (ii) the other is to levy a proportional tax (0 < t < 1) on the firm's revenue

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