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Kindly solve the following questions The graph shows the market for tulips. Price (dollars per bunch) Draw a point at the equilibrium price and equilibrium

Kindly solve the following questions

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The graph shows the market for tulips. Price (dollars per bunch) Draw a point at the equilibrium price and equilibrium quantity. Label it 1. SA tax Suppose that tulips are taxed $6 a bunch and that the tax s on the sellers of tulips. 20- Draw a curve that shows the effect of the tax. Label it. Draw a point to indicate the price paid by buyers and the quantity bought. Label it 2. 14- 14... N Buyers pay $ of the tax and sellers pay $ of the tax. 100 120 Quantity (bunches per week) > > Draw only the objects specified in the quePrice per Quantity Demanded Quantity Supplied ounce (millions oz.) (millions oz.) $2 65 35 4 60 40 6 55 45 8 50 50 10 45 55 12 40 60 14 35 65 Table 1 1. Refer to Table 1. The table contains information about the laundry detergent market. Use the table to answer the following questions. a. Draw the demand and supply curves, be sure to label each axis and curve on the graph. b. What are the equilibrium price and quantity of laundry detergent? c. Suppose the prevailing price is $4 per ounce. Is there a shortage or a surplus in the market? d. What is the quantity of the shortage or surplus? e. How many ounces will be sold if the market price is $4 per ounce? f. If the market price is $4 per ounce, what must happen to restore equilibrium in the market? 2. In each of the following situations, list what will happen to the equilibrium price and the

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