3. A worker chooses labor supply L to maximize his payoff: (1- t)wL – ½L² in which t is the tax rate, w is the wage per hour. The govern- ment chooses a tax rate t to maximize tax revenue R = tWL. - (a) What is the labor supply L maximizing the payoff? (b) What is the government tax revenue R when the worker chooses the payoff-maximizing L? (c) Based on (b), draw the graph of R as a function of t if w = 10.

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