U7Q10 TT. Suppose that the current market rate of in

U7Q10 TT.
Suppose that the current market rate of interest is 10 percent. The market rent on a parcel of land is $6000 per year. A 10 percent land tax is imposed. As a result of the tax the price of the land parcel:falls from 60000 to $30000
increases from $30000 to $60000
falls 10 percent
falls 20 percentU7Q10 TT.
Suppose that the current market rate of interest is 10 percent. The market rent on a parcel of land is $6000 per year. A 10 percent land tax is imposed. As a result of the tax the price of the land parcel:falls from 60000 to $30000
increases from $30000 to $60000
falls 10 percent
falls 20 percent
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