Government new tax: $0.50 cents per snack sold.

1. After tax increase, what will be the new equilibrium price?
2. Calculate the producer surplus (show calculation). How much is the producer surplus (in dollars) before tax?
3. After tax increase, how much is new equilibrium units?
4. What will be the deadweight loss in units since taxes are increased?
5. How much is the total surplus (dollars) before taxes? (Show working)
6. How much will the governments tax revenue be (show calculation)
7. What will be the selling price for producers to consider producing 5 thousand bags of chicken snacks (before taxes)?
8. Calculate the consumer surplus (show calculation). How much is the consumer surplus (in dollars) before taxes?