$99.00 90 Excise Tax (0 - $20) 19.00 80 70 Demand 60 Perfectly Relatively Inelastic Elastic 50 Relatively Elastic 40 Supply 30 Less Perfectly Elastic Elastic 20 $26.00 Relatively Elastic 10 D-T D CALCULATIONS 10 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax $50.00 4,000 Burden on Burden on Tax Revenue Welfare Loss the Consumer the Producer (Deadweight Loss) With Tax Tax Paid Tax Paid $62.75 2,958 Instructions: Adjust the sliders so that the vertical intercept of the supply curve Is $26.00 and the vertical Intercept is $99.00 for the demand curve. Assume there is initially no tax, and that a $19.00 tax is being proposed by policymakers. Report all answers to two decimal places. a) Calculate the total amount of surplus that consumers would lose if the tax was Implemented. $ 44529.37 0 b) Calculate the total amount of surplus that producers would lose If the tax was implemented. $ 19019.94 0 c) How much of the total losses for consumers and producers are recovered as government tax revenue? $ 18487.5 d) Is there any surplus lost by either consumers or producers that is not recovered as revenue