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help please 4 GRAPH Tax Burden Off SETTINGS Reset ($) Price Tax imposed on: Supply Demand S+ T 90 $93.00 S points Excise Tax (0

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4 GRAPH Tax Burden Off SETTINGS Reset ($) Price Tax imposed on: Supply Demand S+ T 90 $93.00 S points Excise Tax (0 - $20) 5.50 80 Skipped 70 Demand 60 Perfectly Relatively - - - - - - - -- - -- Inelastic Elastic ........... . . Relatively Elastic eBook 40 30 References 20 10 $12.00 . ............ Supply Less Perfectly Elastic Elastic Relatively Elastic EEEE CALCULATIONS 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax $50.00 4,000 With Tax $52.92 3,728 Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $12.00 and the vertical intercept is $93.00 for the demand curve. Assume there is initially no tax, and that a $5.50 tax is being proposed by policymakers. Report all answers to two decimal places. a) Calculate the total amount of surplus that consumers would lose if the tax was implemented. $ b) Calculate the total amount of surplus that producers would lose if the tax was implemented. $ c) How much of the total losses for consumers and producers are recovered as government tax revenue? $ d) Is there any surplus lost by either consumers or producers that is not recovered as revenue? (Click to select)Refe re nces Tax imposed on: Supply Demand Excise Tax (0 - $20) 5.50 Demand Perfectly . Relatively Inelastic Elastic Relatively Elastic Supply Less . Elastic Relatively Elastic E CALCULATIONS 3.0 4.0 5.0 6.0 7.0 8.0 9 0 Quantity (thousands per week) Instructions: Adjust the sliders so that the vertical intercept ofthe supply curve is $12.00 and the vertical intercept is $93.00 for the demand curve. Assume there is initially no tax, and that a $5.50 tax is being proposed by policymakers. Report all answers to two decimal places. a) Calculate the total amount of surplus that consumers would lose ifthe tax was implemented. $ :| b) Calculate the total amount of surplus that producers would lose if the tax was implemented. 35 |:| c) How much of the total losses for consumers and producers are recovered as government tax revenue? $ cl) Is there any surplus lost by either consumers or producers that is not recovered as revenue ./ (Click to select) yes no c=(not enough information) \\

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