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Concept explainers
During the 1980s, the controversial economist Arthur Laffer promoted the idea that tax increases lead to a reduction in government revenue. Called supply-side economics, the theory uses functions such as
This function models the government tax revenue, f(x), in lens of billions of dollars, in terms of the tax rate x the graph of the function is shown. It illustrates tax revenue decreasing quite dramatically as the tax rate increase. At a tax rate of (gasp) 100%, the government takes all our money and no one has an incentive to work. With no income earned, zero dollars in tax revenue is generated.
a. Find and interpret f (30). Identify the solution as a point on the graph of the function.
b. Rewrite the function by using long division to perform
Then use this new form of the function to find f (30). Do you obtain the same answer as you did in part (a)?
c. Is f a polynomial function? Explain your answer.
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Chapter 2 Solutions
MyLab Math with Pearson eText -- Standalone Access Card -- for Precalculus (6th Edition)
- Calculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtIntermediate AlgebraAlgebraISBN:9781285195728Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage Learning
- Algebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
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