\fSuppose the government imposes a $10percase tax on suppliers. At this tax amount, the equilibrium quantity of wine is \\:|cases, and the government collects in tax revenue. New cafcufate the government's tax revenue if It sets a tax of $0, $1 0, $20, $25, $30, $40, or $50 per case. (Hint: To nd the egua'i'ihrfum quantity after the tax, adjust the "Quantr'" eld untilr the Tax eguaJ's the verge of the perunit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to ptot total;l tax revenue at each of those tax revels. Note: Plot your points in the orderin which you would like them connected. Line segments Inill connect the points automatically. Graph Input Tool ? Market for Wine 50 45 Supply Quantity 28 (Cases) 40 Demand Price 30.00 Supply Price 20.00 35 (Dollars per case) (Dollars per case) Tax 30 10.00 (Dollars per case) PRICE (Dollars per case) 25 20 Demand 10 0 7 14 21 28 35 42 49 58 63 70 QUANTITY (Cases)HW: Application: The Costs ofTaxation Assignment True or False: The government can raise its tax revenue by increasing the perunit tax on wine. 0 True 0 False Consider the deedweight loss generated in each of the following cases: no tax, a tax of $20 per case, and a tax of $40 percese. On the following graph, use the black curve (plus symbols) to illustrate the deadweight loss in these cases. { Hint: Remember that the area of a 1 E and the height is the reduction in quantity caused by the tax) triangle is equal to x Base x Height. In the case of a deadweight loss triangle found on the graph input tool, the base is the amount of the tax 4. The Laffer curve Government-imposed taxes cause reductions in the activity that is being taxed, Iwhich has important implications for revenue collections. To understand the effect of such a tax, consider the monthly market for wine, which is shown on the following graph. Use the graph Input top.r to help you answer the foowa'ng questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white eldr the graph and anyr corresponding amounts in each grey eld will change accordingly