Consider the following demand Qd=140 -3P and supply Qs= 20+2P for lunch at the Trump Golf and Country Club

a) Draw the demand and supply curves and calculate the equilibrium price and quantity.

b) The government has imposed a sales tax of $2 on restaurant meals. Show how the above market is affected, and the new equilibrium price and quantity (calculation is necessary)

c) Explain and illustrate how the consumer's welfare is affected. Specifically show how the (1) consumer surplus, (2) total value, (3) marginal value change.