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WebDraw the effect of the tax as a function of who pays the statutory tax. III. Find new equilibrium and compare it with original one. IV. Assess tax incidence, loss in efficiency and revenue collected by the government. Tax Basics. A tax is a fee levied by the government on a good, service, or action that individuals must pay. Taxes come in many ... WebMicroeconomics, through the supply-and-demand framework of analysis, looks at how this happens. It also studies the effects of institutions such as government regulation and taxation on individual choices and market outcomes. In essence, microeconomics is as old as economic thought itself: ... Webdeath tax, a levy imposed on the estate left by a decedent or on the inheritance of a beneficiary. Like the gift tax, it is a levy imposed on gratuitous transfers of property--i.e., transfers made without compensation.A brief treatment of death taxes follows. For full treatment, see MACROPAEDIA: Taxation: Death and gift taxes. Death in most countries is … happy\u0027s baton rouge