4 Check my wor Problem 7-6 The table below shows hypothetical demand and supply schedules for pistachios. oints Price Quantity Demanded ($ per kg) Quantity Supplied (thousands of kg per year) Quantity Supplied ( thousands of kg per year) (thousands of kg per year) e Book D So S1 20 Print 500 18 400 References 16 100 300 14 200 200 12 300 100 10 400 e a. Draw a graph showing the demand and supply curves D and So. Plot five points of the demand curve (Do), all six points of the pply curve (So), and the first four points of the new supply curve ($1).4 a. Draw a graph showing the demand and supply curves D and So. Plot five points of the demand curve (Do), all six points of the supply curve (So), and the first four points of the new supply curve ($1). 10 i Demand and Supply Curves for Pistachios points Tools eBook 24 Print 20 References D So 16 S1 Price ($ per kg) 12 8Check my w 4 b. What are the equilibrium price and quantity in this market before government intervention? 10 points Equilibrium price $ Equilibrium quantity kilograms eBook c. In order to raise funds for the government, an excise tax of $4 per kilogram is imposed in this market. Draw the new supply curve Print S1 facing consumers, plotting only the endpoints of the curve. Plot only the endpoints of S1 in the graph above. References Fill in the empty column in the above table. Remember to enter a value in every response box. Empty cells will score as incorrect. d. What are the new equilibrium price faced by consumers and the new quantity? Equilibrium price $ Equilibrium quantity kilograms What is the price seen by producers?Check 4 $ e. What is the total tax payment? 10 $ points What amount falls on consumers? on producers? eBook The portion that falls on consumers $ Print The portion that falls on producers $ References f. Calculate the consumer surplus and producer surplus before the tax. Consumer surplus $ Producer surplus $ g. Calculate the consumer surplus and producer surplus after the tax. Consumer surplus $Check my work The portion that falls on producers $ f. Calculate the consumer surplus and producer surplus before the tax. Consumer surplus $ 10 points Producer surplus $ g. Calculate the consumer surplus and producer surplus after the tax. eBook Print Consumer surplus $ References Producer surplus $ h. Is the loss of welfare due to the tax greater for consumers or producers? (Click to select) i. Calculate the total deadweight loss created by the tax. $