5. Calculating tax incidence Suppose that the local government of Santa Fe decides to institute a tax on soda producers. Before the tax, 35 billion liters of soda were sold every year at a price of $10 per liter. After the tax, 30 billion liters of soda are sold every year; consumers pay $15 per liter, and producers receive $7 per liter (after paying the tax). The amount of the tax on a liter of soda is $ per liter. Of this amount, the burden that falls on consumers is per liter, and the burden that falls on producers is $ per liter. True or False: The effect of the tax on the quantity sold would have been smaller if the tax had been levied on consumers. O True O False