Some economists, health professionals, and policymakers argue in favor of a soda tax because they believe that people who drink sweetened beverages can experience health problems. Some city governments also believe that implementing a soda tax is a good way to raise tax revenues. If the main goal of a soda tax is to reduce consumption of sweetened beverages, will the tax be more effective if the demand for sweetened beverages is price elastic or if it is price inelastic? What about if the main goal is to raise tax revenue for a city government? Assume that the tax is $0.75 per bottle of soda and that prior to the tax being imposed, the equilibrium quantity of soda sold in the city was 90,000 bottles per day and the equilibrium price was $1.75 per bottle. Illustrate your answer with a graph of the market for soda in the city and summarize the key results in a table.