Yep, you read that right, I need math help ASAP. For some reason our public finance and budget professor has us doing work that I can't even find out how to in our textbook I'm hoping since so many of yall are really smart someone will know how the hell to answer these questions and can explain the basics to me.
Suppose that Tang and Wilson must split a fixed 400 pounds of food between
them. Tang's utility function is UT = sqrt (F1) and Wilson's utility function is UW
= 1⁄2 sqrt (F2), where F1 and F2 are pounds of food to Tang and Wilson,
respectively.
Suppose that your neighbor is willing to pay you 100 to do some home repairs for her. You would be willing to do the job for 80, so you strike a deal. Now suppose that the government levies a tax of 25 on all home repair transactions. You pack up your gear and leave your neighbors home because it is no longer worthwhile for you to do the job. As a result of you leaving the job, you do not have to pay the 25 tax. Relate this to the concept of excess burden.
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