3. Now suppose that instead of using the price oor to restrict consumption, the government decides to impose a tax on alcohol (SEX on each unit of alcohol sold). a. Can such a tax achieve an efficient level of consumption? Explain. [3 marks] b. In light of your answer to pat a, if you were advising the government, would you recommend implementing a price oor or tax to achieve the efficient level of consumption? [Hint think about tax revenue] [2 marks] 4. [s the demand for alcohol elastic or inelastic? Explain. How are your answers to Question 2 and 3 affected by the price elasticity of demand? [4 marks] 5. Suppose that changing climate increases the price of hops [an input in the production of alcohol). How will this affect the market for alcohol? Assuming that the price floor or tax on alcohol sales is operating, what does the government need to do in order to maintain an efficient level of alcohol consumption? [3 marks]