at El" Cl Suppose the market demand curve for the product is given by Qd = 400 5F and the market supplyr curve is Qs = SF. The market clearing price and duantityr is p*=50 and q*=150. which results in $2,250 of consumer surplus and $3,350 of producer surplus for a total social surplus of $5.000. For practice, you should verify all of these answers yourself. Suppose a $4 per unit tax is imposed on consumers. From the lecture, you should be able to see that this will result in a new intercept on the demand curve. Using this new demand curye set equal to the supply curve will solve for ps and ot. You can nd Pc by adding $4 to P5. If you have done this all correctly, you will nd that qt=142.5