The estimated demand and supply functions for coffee are given by d Q = = 12 - P = 9 + 0.5P Here P is the price in $ per lb and Q is the quantity in million tons per year. The government imposes a specific tax at rate t = $0.75 per lb, to be paid by the buyers. Calculate the equilibrium price and quantities with and without tax. What is the incidence of tax on the buyers? Illustrate your answers on a diagram.