Page Lyons

08/22/2024 · Middle School

During the 1980 s, the controversial economist Arthur Laffer promoted the idea that tax increases lead to a reduction in government revenue. Called supply-side economics, the theory uses functions such as \( f(x)=\frac{120 x-12,000}{x-150}, 30 \leq x \leq 100 \). This function models the government tax revenue, \( f(x) \), in tens of billions of dollars, in terms of the tax rate, \( x \). The graph of the function is shown. It illustrates tax revenue decreasing quite dramatically as the tax rate increases. At a tax rate of (gasp) Then use this new form of the function to find \( f(30) \). \( \mathrm{f}(30)=\square \) (Round to the nearest integer as needed.)