Consider the market for designer purses. The following graph shows the demand and supply for designer purses before the government imposes any taxes. First, use the black point (plus symbol) to indicate the equilibrium price and quantity of designer purses 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 symbol) to shade the area representing total producer surplus (PS) at the equilibrium price. 150 135 Demand 120 105 PRICE (Dollars per purse) 45 88 00 75 90 30 15 Supply Before Tax 0 0 10 20 30 401 50 60 70 80 90 100 QUANTITY (Purses) Equilibrium A Consumer Surplus Producer Surplus