A market is described by the following supply and demand equations:

Supply: Q_s = 3P - 30

Demand: Q_d = 100 - 2P

Answer the following questions:

Draw the graph and determine equilibrium price and quantity. Label the intercepts of the curves with each axis. Compute consumer and producer surplus.

After setting a price ceiling equal to $20, determine the new price and quantity traded. Compute consumer and producer surplus. What is the deadweight loss?

After setting a price floor equal to $35, determine the new price and quantity traded. Compute consumer and producer surplus. What is the deadweight loss?

After setting a tax on firms of $5 per unit sold, determine the new price and quantity traded. Compute consumer surplus, producer surplus, and government revenue. What is the deadweight loss?

After setting a tax on consumers of $5 per unit sold, determine the new price and quantity traded. Compute consumer surplus, producer surplus, and government revenue. What is the deadweight loss? Compare your results to the previous question.