Central Texas College - For Stud X | wil Content X MindTap - Cengage Learning X Course Hero X + X C ng.cengage.com/staticb/ui/evo/index.html?deploymentld=59814121952542253916504548&elSBN=9780357133576&id=1998252096&snapsh... . .. CENGAGE | MINDTAP Q Search this course ? Homework (Ch 08) X Consider the market for designer handbags. The following graph shows the demand and supply for designer handbags before the government imposes any taxes. A-Z First, use the black point (plus symbol) to indicate the equilibrium price and quantity of designer handbags in the absence of a tax. Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond L symbol) to shade the area representing total producer surplus (PS) at the equilibrium price. EI Before Tax 100 bongo 90 Demand Equilibrium 80 A 70 60 Consumer Surplus (Dollars per handbag) 50 ? A+ 40 Producer Surplus 66.F Q Search x O 4:09 PM Sunny 3/1/2024 PREMindTap - Cengage Learning X X Central Texas College - For Stud X | wil Content X X Course Hero + . .. C ng.cengage.com/staticb/ui/evo/index.html?deploymentld=59814121952542253916504548&elSBN=9780357133576&id=1998252096&snapsh... CENGAGE |MINDTAP Q Search this course ? Homework (Ch 08) X (?) Before Tax A-Z 100 Demand Equilibrium 80 A 70 60 Consumer Surplus 50 PRICE (Dollars per handbag 40 Producer Surplus bongo 30 Supply 20 10 160 320 480 640 800 960 1120 1280 1440 1600 A+ (? QUANTITY (Handbags 4:09 PM 66.F Q Search 3/1/2024 PRE SunnyCentral Texas College - For Stud X | wil Content X MindTap - Cengage Learning X Course Hero X + X C ng.cengage.com/staticb/ui/evo/index.html?deploymentld=59814121952542253916504548&elSBN=9780357133576&id=1998252096&snapsh.. . .. CENGAGE |MINDTAP Q Search this course ? Homework (Ch 08) X 0 160 320 480 640 800 960 1120 1280 1440 1600 QUANTITY (Handbags) A-Z Suppose the government imposes an excise tax on designer handbags. The black line on the following graph shows the tax wedge created by a tax of $40 per handbag. L EI First, use the tan quadrilateral (dash symbols) to shade the area representing tax revenue. Next, use the green point (triangle symbol) to shade the area representing total consumer surplus after the tax. Then, use the purple point (diamond symbol) to shade the area representing total producer surplus after the tax. Finally, use the black point (plus symbol) to shade the area representing deadweight loss. bongo After Tax 100 Demand Tax Revenue 30 ? A+ A ag 70 66.F Q Search 4:09 PM Sunny 3/1/2024 PRECentral Texas College - For Stud X | X MindTap - Cengage Learning X Course Hero X + X wil Content . .. C ng.cengage.com/staticb/ui/evo/index.html?deploymentld=59814121952542253916504548&elSBN=9780357133576&id=1998252096&snapsh... CENGAGE | MINDTAP Q Search this course ? Homework (Ch 08) X After Tax 100 A-Z Demand Tax Revenue A 70 60 Tax Wedge Consumer Surplus PRICE (Dollars per handbag) 40 Producer Surplus bongo 30 Supply 20 Deadweight Loss 10 0 160 320 480 640 800 960 1120 1280 1440 1600 QUANTITY (Handbags) A+ (? 4:09 PM 66.F Q Search 3/1/2024 PRE SunnyCentral Texas College - For Stud X | wil Content X MindTap - Cengage Learning X Course Hero X + X C ng.cengage.com/staticb/ui/evo/index.html?deploymentld=59814121952542253916504548&eISBN=9780357133576&id=1998252096&snapsh... . .. CENGAGE |MINDTAP Q Search this course ? Homework (Ch 08) X 0 160 320 480 640 800 960 1120 1280 1440 1600 QUANTITY (Handbags) A-Z L Complete the following table by using the previous graphs to determine the values of consumer and producer surplus before the tax, and consumer surplus, producer surplus, tax revenue, and deadweight loss after the tax. EI Note: You can determine the areas of different portions of the graph by selecting the relevant area. Before Tax After Tax (Dollars) (Dollars) Consumer Surplus bongo Producer Surplus Tax Revenue o o Deadweight Loss Grade It Now Save & Continue Continue without saving A+ 66.F (x O 4:09 PM Sunny Q Search 9 3/1/2024 PRE