The largest tax break for most Americans is the mortgage interest tax deduction, which allows homeown-ers to deduct from their taxable income the amount of money they pay in interest to finance their homes. This tax break is intended to encourage homeownership. Compare this tax deduction to a uniform tax creditfor homeownership on equity and efficiency grounds. The e icon indicates a question that requires students to apply the empirical economics principles discussed and the Empirical Evidence boxes

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities. required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.