ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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California has higher income taxes than any other state in the
United States. As a result, many business owners, like Elon
Musk and Joe Rogan, have moved their enterprises to states
with lower state income taxes. As a result, its likely that
California will start to experience less tax revenue even as they
increase tax rates. What concept in economics does this best
illustrate?
O The Law of Demand
O Subsidies
O Price Floors
O The Laffer Curve
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Transcribed Image Text:California has higher income taxes than any other state in the United States. As a result, many business owners, like Elon Musk and Joe Rogan, have moved their enterprises to states with lower state income taxes. As a result, its likely that California will start to experience less tax revenue even as they increase tax rates. What concept in economics does this best illustrate? O The Law of Demand O Subsidies O Price Floors O The Laffer Curve
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