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. Before Tax 50 Demand 40 Equilibrium 35 30 Consumer Surplus E Dollars per purse) 25 20 Producer Surplus Before Tax 50 45 Demand 00 Equilibrium 35 30 Consumer Surplus PRICE (Dollars per purse) 25 20 Producer Surplus 15 Supply 10+ 5 O 00 160 720 800 240 320 400 480 560640 QUANTITY (Purses) Suppose the government imposes an excise tax on designer purses. The black line on the following graph shows the tax wedge created by a tax of 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. After Tax 50 45 Demand Tax Revenue 40 15 30 Tax Wedge Consumer Surplus PRICE (Dollars per purse) 25 20 Producer Surplus 15 Supply 10 Deadweight Loss Assignment 9 0 0 BO 160 240 320 400 480 550 540 720 800 QUANTITY (Purses) 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, Note: You can determine the areas of different portions of the graph by selecting the relevant area, Before Tax Alter Tax (Dollars) (Dollars) Consumer Surplus Producer Surplus Tax Revenue Deadweight Loss