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Derive an expression for the tax rate

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Reference no: EM132642743

Recall that tax revenue is . The Laffer curve is tax revenue as a function of the tax rate and only exogenous variables and parameters. Use the expression you derived ( =(1- )^( /( +1) ^(- /( +1)) as well as the labor demand curve (A = W) to derive an expression for tax revenue that is a function of only the tax rate and exogenous variables ( , ) and parameters ( , ). Then find the top of the Laffer curve. In other words, derive an expression for the tax rate that yields maximum tax revenue as a function of the exogenous parameters ( , ).

Reference no: EM132642743

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