12. In the market for PS5, the price elasticity of supply is +0.5, and the price elasticity of demand is -0.5. At equilibrium, price is $500 and quantity is 50000. a. Assuming supply and demand are linear, reconstruct and draw the supply and demand curves. Label the intercepts. b. To help students focus on study, the government proposes to tax gaming consoles by $100 each. What are PB and PS after the tax? What is the new equilibrium quantity? Illustrate them on the same graph. c. Calculate the change in consumer surplus, producer surplus, government income, and deadweight loss and identify them on the graph.