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In some states of the United States of America, legislation has changed, giving now the same treatment to marijuana and alcohol. The consumption, production and exchange of marijuana for recreational purposes is now legal.

Suppose that initially the demand and supply of marijuana were the following:

Qd=10006P

Qs=100+9P

With the new legislation, the production costs of marijuana have decreased and the demand has also increased so that the equations of demand and supply after the approval of the new legislation are:

Qd=14006P

Qs=98+9P

With the previous information answer the following questions.Note: in all your calculations, use a precision of four decimal digits.

If the objective of the state governments is that the same quantity of marijuana is consumed before and after thelegislationcomes into force, the per unit tax on marijuana needs to be?

2) What %of the tax will need to be paid by producers?

3) What%of the tax will need to be paid by consumers?

4) After the drug legalization, which tax (not necessarily the same you found in the previous part) maximizes government revenue?

5) What is the deadweight loss associated with the tax you calculated in the previous item?