The Laer curve 3,: : R(t) proposes a simple theoretical relationship between a government's tax revenue RU) and tax rate t: Ru) : that Where 12(75) is the tax base for tax rate it that is, the total dollar amount of economic activity taxable at tax rate if. The dependence of Mt) on t comes from things like changes in people's spending habits or companies' investment plans based on the tax rate, Because if represents a tax rate, it is restricted to be in the interval [0, 1]. (For example, if you have a tax base of $20 billion and a tax rate of %, $5 billion goes to the government through taxes, and $15 billion remains with the economic actors.) In this assignment7 you may use Without proof the assumption that b(t) is continuous on the interval [0,1] and differentiable on the interval (0, 1). You may also look up terms and arguments online, though it is certainly possible to get full marks on the assignment Without doing so, 2. (a) In a paragraph7 explain Why it is plausible that 5'03) 0 on the interval (0, 1)? Justify your answer in one or two paragraphs, You may assume that b'(t)