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Given: Suppose you are given the following market supply and demand curves for energy drinks. Table: Demand Curve Price Quantity Point Demanded (in 1,000s of cans per day) $0 20 F $5 15 E $7.50 12.5 D $10 10 C $15 5 B $20 O A Supply Curve Price Quantity Point Supplied (in 1,000s of cans per day) $5 0 G $6 5 H $7 10 $7.50 12.5 L $8 15 K $9 20 L $10 25 M $11 30 NGraph: A 20 17.5 B 15 12.5 C 10 Price per unit D N 7.5 M J EK 5 H G 2.5 F 0 0 2.5 5 7.5 10 12.5 15 17.5 20 22.5 25 27.5 30 32.5 Quantity (in 1,000s of cans per day) Demand - Supply Question: If unregulated, what is the equilibrium price? O $7.50 O $7 O $5 O $11 O $10 O $6 O $9 O $8Question: If unregulated, what is the equilibrium quantity? O 10,000 cans per day O 12,500 cans per day O 30,000 cans per day 15,000 cans per day O 25,000 cans per day O 5,000 cans per day O 20,000 cans per dayQuestion: If unregulated, what is consumer surplus? O $15,625 per day $112,500 per day O $150,000 per day O $37,500 per day $225,000 per day O $25,000 per day $30,000 per day O $187,500 per day $75,000 per day O $3,750 per day O $5,000 per day $78,125 per day O $93,750 per dayQuestion: If unregulated, what is producer surplus? O $25,000 per day O $15,625 per day O $5,000 per day O $78,125 per day O $37,500 per day O $75,000 per day O $187,500 per day O $93,750 per day O $30,000 per day O $225,000 per day O $112,500 per day O $150,000 per day O $3,750 per dayQuestion: Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, what price is charged to consumers? O $6 O $11 O $15 O $10 O $7.50 O $7 O $9 O $8Question: Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, what price do sellers receive net of the tax? O $15 O $10 O $6 O $7.50 O $8 O $7 O $9 O $11Question: Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, how many cans per day are sold? O 25,000 cans per day O 5,000 cans per day 12,500 cans per day O 20,000 cans per day O 10,000 cans per day O 30,000 cans per dayQuestion: Now suppose a $3 per unit tax is imposted. Assume the statutory burden specifies that firms will pay the tax. With the tax in place, what is total tax revenue? O $30,000 per day $150,000 per day $93,750 per day O $225,000 per day $112,500 per day O $5,000 per day O $78,125 per day O $75,000 per day $25,000 per day O $37,500 per day O $3,750 per day O $15,625 per day $187,500 per day