2. Market Equilibrium and Taxation (20 points) The market (inverse) demand function for a particular good is P =100 - 4Q; where QB is the quantity demanded. The market (inverse) supply function is P =10 + 205 where Q5 is the quantity supplied. a) What is the competitive market price-quantity equilibrium? That is, what is the market-clearing price and quantity? b) Suppose the government places an $18 per-unit (specific) tax on the good, and suppose further that sellers of the good are responsible for collecting the tax and sending the tax receipts to the government. 'What is the new price-quantity equilibrium in this market? c} Who incurs the larger tax burden, buyers or sellers of the good? d) 1lu'li'hat is the deadweight loss to taxation