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The 19th-century American economist Henry George argued that the government should levy a sizable tax on land, the supply of which he took to be

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The 19th-century American economist Henry George argued that the government should levy a sizable tax on land, the supply of which he took to be completely inelastic. a. George believed that economic growth increased the demand for land and made rich landowners richer at the expense of the tenants, who make up the demand side of the market for land. Explain this argument by using a supply and demand diagram. b. Who shoulders the burden of a tax on land - the landowners or the tenants? c. Is the deadweight loss of this tax large or small? d. Many cities today levy taxes on the value of real estate. Why might the above analysis of George's land tax not apply to this modern tax on real estate

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