Consider the market for electric scooters. The following graph shows the demand and supply for electric scooters before the government imposes any taxes. First, use the black peint (plus symbol) to indicate the equilibrium price and quantity of electric scooters 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 (diamend symbol) to shade the area representing total producer surplus (PS) at the equilibrium price. 300 270 Demand 240 4 210 120 150 120 PRICE (Daollars per scooter) o 4+ o 140 Suppose the government imposes an excise tax on electric scooters. The black line on the following graph shows the tax wedge created by a tax of 120 per scooter. 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 (diamend symbol) te shade the area representing total producer 280 Before Tax Supply 420 580 700 840 930 QUANTITY (Scooters) 1120 1260 1400 -+ Equilibrium A Consumer Surplus Producer Surplus @ Micro: 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 foss. @ After Tax 200 270 Tax Revenue 240 A 210 Consumer Surplus o Producer Surplus 180 Tax Wedge 150 120 PRICE (Dollars per scooter) * * &0 Deadweight Loss 0 0 0 140 280 420 560 700 840 980 1120 1260 1400 QUANTITY (Scooters) 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 After Tax (Dollars) (Dollars) 300 270 Demand Tax Revenue 240 A 210 180 Tax Wedge Consumer Surplus 150 PRICE (Dollars per scooter) 120 Producer Surplus Supply 80 Deadweight Loss 30 140 280 420 560 700 840 980 1120 1260 1400 QUANTITY (Scooters) 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 After Tax (Dollars) (Dollars) Consumer Surplus Producer Surplus Tax Revenue o o Deadweight Loss