PLEASE HELP ME EXPLAIN WHY THESE QUESTIONS COME WITH THESE ANSWER:

Scenario B:

Suppose a perfectly competitive market has the following demand and supply:

Q_D = 200 - 10p

Q_S = 5p - 40

A tax of $6 on each unit sold is imposed on sellers in the market.

1. With the tax, what will be the price and quantity in equilibrium?

p = ____18____ Q =____20______

1. What is the total amount of tax revenue collected by the government?

GR = ________120______

1. Find the Consumer Surplus, Producer Surplus, and Deadweight loss resulting from the tax:

CS = ______20___ PS = ________40___ DWL = _______60____

1. Suppose that instead of a tax, a price floor is set at p=18. Find the resulting Consumer Surplus, Producer Surplus, and Deadweight loss from the price control.

CS = ______20____ PS = ___160_______ DWL = _______60______