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5. In each ot the tollowing cases involving taxes, explain: (1) whether the incidence of the tax falls more heavily on consumers or producers, (ii)

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5. In each ot the tollowing cases involving taxes, explain: (1) whether the incidence of the tax falls more heavily on consumers or producers, (ii) why government revenue raised from the tax is not a good indicator of the true cost of the tax, and (i11) how deadweight loss arises as a result of the tax. a. The government imposes an excise tax on the sale of all college textbooks. Before the tax was imposed, 1 million textbooks were sold every year at a price of $50. After the tax is imposed, 600,000 books are sold yearly; students pay $55 per book, $30 of which publishers receive. k. The government imposes an excise tax on the sale of all airline tickets. Before the tax was imposed, 3 million airline tickets were sold every year at a price of $500. After the tax is imposed, 1.5 million tickets are sold yearly; travelers pay $550 per ticket, $450 of which the airlines receive. <. the government imposes an excise tax on sale of all toothbrushes. before million toothbrushes were sold every year at a price after is imposed are vear consumers pay per toothbrush which producers receive>

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