12 The table on federal income tax rates facing various income groups suggests that the marginal tax rate in the United States has fallen since the 1993–1996 period used in the study of marginal tax rates and labor supply discussed in the Case in Point essay What would your prediction be as to how this reduction in the marginal tax rate would affect the quantity of labor supplied in the United States? 13 Given that we cannot have a perfectly accurate count of the votes in any election, is there any point in having elections at all? NUMERICAL PROBLEMS In an effort to beautify their neighborhood, four households are considering leasing a small section of vacant land for a park For a monthly leasing fee, the owner of the vacant land is willing to arrange for some of the maintenance and to make the park available only to the four households The demand curves for the four households (A, B, C, and D) wanting parkland are as follows (all demand curves are linear): Acres of Parkland Demanded per Month Price per month A B C D $100 0 0 $75 0 $50 1⅓ 0 $25 2⅔ $0 4 Draw the demand curves for the four neighbors, and show the neighborhood demand curve for parkland Attributed to Libby Rittenberg and Timothy Tregarthen Saylor URL: http://www.saylor.org/books/ Saylor.org 838