1. Suppose the external costs of gasoline are estimated at $1.80 per gallon. The current tax on gas in a state (including the federal and state taxes) is $0.90 per gallon. The table below shows the quantities of gas demanded (Q_D) and supplied (Q_S) in millions of gallons at different prices (P) in dollars per gallon in the market for gasoline with no tax.Assume that the demand curve and the supply curve are straight lines.

In the scenario above,with the tax in effect,

A. the equilibrium quantity of gas traded in the market is______

B. marginal benefit received by gas consumers is____

C. the marginal social cost of gas is

D. the socially optimal (efficient) quantity of gas is

E. the deadweight loss is $

P QD Qs 4.00 4 34 3.70 6 30 3.40 8 26 3.10 10 22 2.80 12 8T 2.50 14 14 2.20 16 10 1.90 BT