a. In a competitive market with a linear upward-sloping supply curve and a linear downward-sloping demand curve, the government imposes a $56tax per unit bought and sold. The tax causes the equilibrium quantity to fall from87units to62units. The deadweight loss of this tax is $__________

b. The market foriced coffeeis characterized by the following supply and demand functions:

Supply:QS=90+4p

Demand:QD=1306p,

whereQSstands for quantity supplied (number of bottles),QDstands for quantity demand (number of bottles),andpstands for price (per bottle). Without determining the equilibrium price, you know that the equilibrium quantity in the market foriced coffeeis_________bottles.

c. Ben bought a lottery ticket that could allow him to win $40,000.00with probability0.20(and nothing otherwise). Ben values money according to the utility functionv(m)=m. Ben's expected utility of playing the lottery is___________________