Assume there are four people in a city. Person A owns nothing, person B owns a chicken shack worth $10,000, person C owns a small garden worth $130,000 and person D owns a cottage worth $240,000. They want to finance a public children's zoo, a local public good. The zoo will cost $56,000 and should be financed by a property tax with equal tax rates per property value. Calculate the tax rate (in %) for the following cases
a. all four people live in the city.
b. there is a city of four B-like people.
c. there is a city of four C-like people.
d. there is a city of four D-like people.
e. there is a city of only one A, one B and one C (D has left).
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Home » Business » Assume there are four people in a city. Person A owns nothing, person B owns a chicken shack worth $10,000, person C owns a small garden worth $130,000 and person D owns a cottage worth $240,000.