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4. The demand for whizamos is perfectly inelastic and the supply curve is upward sloping. The government is going to impose an excise tax of

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4. The demand for whizamos is perfectly inelastic and the supply curve is upward sloping. The government is going to impose an excise tax of $T on the producers of whizamos. a. In a correctly labeled graph, indicate the following: i. the equilibrium price and quantity without the tax, labeled Pm and Om. ii. the quantity sold in the market post-tax, labeled Qt iii. the price paid by consumers post-tax, labeled Pc iv. the price received by producers post-tax, labeled Pp v. the tax revenue generated by the tax, labeled R. b. What share of the ST tax was paid by consumers and what share was paid by producers? Explain. V/c. How much deadweight loss was created by this tax? Explain

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