Given the following diagram: Tax Incidence Surplus Measures Tax imposed on: Supply Demand --3 Excise Tax (0 $20) 10.00 ./ Demand Perfectly Inelastic . Relatively Inelastic .7 Supply Less Elastic Relatively Elastic a CALCULATIONS 5.0 7.0 3.0 so Quantity {thousands per week) Quantity Consumer Surplus Producer Surplus Welfare Loss I , (Deadweight Loss) $50.00 4,000 | Transfered to Government ' Transfered to Government k Remaining Remaining $57.04 3 ,704 Instructions: Set demand relatively inelastic such that the X intercept of the demand curve is 6 (this corresponds to a vertical intercept of 150), supply relatively elastic such that the vertical intercept is $10, and impose a $10 excise tax on buyers. Use the Surplus Areas switch above the graph as needed. a. What is the equilibrium price? $ |:| (Report your answer to two decimal places) b. What is the equilibrium quantity? |:| {Report your answer as a whole number) c. What is the amount of the consumer surplus? $ |:| (Report your answer as a whole number) d. What is the amount of the producer surplus? $ |:| (Round your answer to a whole number) e. How much consumer and producer surplus is transferred to the government as tax revenue? $ |:| (Round your answer to a whole number) f. What is the total amount of economic surplus? 55 Cl (Round your answer to a whole number) g. What is the amount of the deadweight loss? $ |:| (Report your answer as a whole number)