NO NUMBERS ARE REQUIRED FOR THIS QUESTION. It is a general question you can make your own numbers as long as the numbers make sense in relation to the question.

Suppose that in the market for coffee, the government decides to impose a tax on the consumption of coffee.

A. Illustrate the equilibrium market for coffee reflecting the new tax.

B. On your graph, label the new price that consumers pay as Pc

C. On your graph, label the new price that sellers receive as Ps

D. On your graph, shade in the area representing the tax revenue received by the government and label it (TR).

E. On your graph, shade in the area of consumer surplus and label it (CS).

F. On your graph, shade in the area of producer surplus and label it (PS).

G. On your graph, shade in the area of deadweight loss, if any and label it (DWL).

H. What does deadweight loss mean?