2. (40%) Consider a market with the inverse supply and demand functions as below: Supply :P =10+2Q Demand : P = 30 2Q (A) (10%) Find the market equilibrium price and quantity. (B) (10%) Following part (A), nd the consumer surplus, producer surplus, and total social welfare. (C) (10%) Now the government imposes a sales tax = 4. That is, for every unit of the product sold in the market, the producer has to pay 4 dollars to the government. What is the equilibrium quantity in the market now? What are the prices paid by the consumer and the price received by the producer? (D) (10%) What are the producer surplus and consumer surplus after the policy in part (C) is imposed? What is the social welfare? Is the social welfare higher or lower than that in part (B)