Given: Suppose you are given the following market supply and demand curves for energy drinks. Table: Demand Curve Price Quantity Demanded (in 1,000s of cans per day) 90 $0 20 Point LL F $5 15 E $7.50 12.5 D $10 10 C $15 5 B $20 0 A Supply Curve Price Quantity Supplied (in 1,000s of cans per day) Point $5 0 G $6 5 H $7 10 $7.50 $8 $9 12.5 J 15 45 20 20 K L $10 25 M $11 30 90 N Price per unit 201 17.5- 15 12.5 10- 7.5 A B 5 H G 2.5 0 0 2.5 5 7.5 C D JEK N M F 10 12.5 15 17.5 20 22.5 25 27.5 30 32.5 Quantity (in 1,000s of cans per day) Demand Supply Question: If unregulated, what is the equilibrium price? If unregulated, what is the equilibrium quantity? If unregulated, what is consumer surplus? If unregulated, what is producer surplus? Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, what price is charged to consumers? Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, what price do sellers receive net of the tax? Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, how much of total tax revenue originates from the price increase experience by consumers? Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, how much of total tax revenue originates from the price decrease experience by sellers?