PART 2: Equilibrium and Government Intervention 10 pts TOTAL Use the graph below to answer the questions. PRICE ($ S + Tax $8 S $6 $5 $4 $2 0 60 90 QUANTITY a. What is the quantity sold BEFORE the tax? b. What is the price BEFORE the tax? c. What is the quantity sold AFTER the tax? d. Shade in the area of consumer surplus AFTER the tax. e. What happens to the price consumers pay due to the tax? f. Shade in the area of deadweight loss from the tax. g. Explain what deadweight loss is: h. Draw a graph of a competitive market in equilibrium and then show the impact of a PRICE CEILING. Show the change in quantity sold and the deadweight loss