Question: 2. Suppose that an Income Maintenance Program entails $3000 in basic benefit (B). It is also associated with a benefit reduction rate of 20%. What

2. Suppose that an Income Maintenance Program entails $3000 in basic benefit (B). It is also associated with a benefit reduction rate of 20%. What will be the subsidy amount for a family that earns $2000 per year? What will be their total family income? What is the break-even level of income for such a program? [Show all your work]

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