5. Describe the example we discussed in class where the incidence of a specific tax falls more than 100% on the consumeri.e., the price the buyer pays is the pre-tax price, plus more than 100% of the specific tax. Why is this the case? 6. Describe the income and substitution effects of the increase in interest rates for a borrower. What does this imply for the effect of eliminating tax deductibility of interest payments? 7. In primary education, why is there a trade-off between parental choice and equality of opportunity? 8. Describe the argument that a tax on the value of land (replacing other taxes) can improve both efficiency and equality. 9. What is a Universal Basic Income, and does it create substitution effects? 10. (With the caveat that it's not technically a monopoly) in what ways is Google like a natural monopoly? 11. Describe one cause of government failures.