This economics assignment solution addresses key concepts including production analysis, diminishing returns, and taxation. The first question analyzes labor input, total product, marginal product, and average product, including a discussion of diminishing returns and its graphical representation. The second question examines carbon tax, excise tax, and their impact on environmental sustainability in Canada, including government rebates and their effects on pollution reduction. The solution includes tables, graphs, and references to support the analysis, providing a comprehensive understanding of the economic principles involved. The assignment aims to demonstrate the application of economic theories to real-world scenarios such as production processes and environmental policies.
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