Consider a competitive market for red lentils with 10,000 identical farmers, a competitive market price of $5 and the following ?? for each farmer:MC = $0.5+ $0.05QAlso consider the following market demand function:Q_D=1,100,000-40,000PCalculate the value of the deadweight loss for the consumer and the producer following a 25% tax on red lentils, as well as, the amount of government revenue.

Consider a competitive market for red lentils with 10,000 identical farmers, a competitive market price of $5 and the following MC for each farmer: MC = $0.5 + $0.05Q Also consider the following market demand function: QD = 1,100,000 - 40,000P Calculate the value of the deadweight loss for the consumer and the producer following a 25% tax on red lentils, as well as, the amount of government revenue