Please, sir, I want a clear, comprehensive and tidy answer. Please, I do not want the answer in handwriting and not in photography. I want it written here, please, sir.

Q1. Illustrates the market for chocolate bars has the following demand and supply schedules: [1.5 Marks] Price uautit}:r uautit}? Demanded Supplied a. Graph the demand and supply curves. What is the equilibrium price and quantity):r in this market? b. If the actual price in this market were ab ove the equilibrium price= what would drive the market toward the equilibrium? c. If the actual price in this market were below the equilibrium price= what would drive the market toward the equilibrium? Q2. Illustrates the market for pizza is characterized by a downwardsloping demand curve and an upwardsloping supply curve. [1.5 Marks] a. Draw the competitive market equilibrium. Label the price. quantity. consumer surplus. and producer surplus. Is there any deadweight loss? Explain. b. Suppose that the government forces each pizzeria to pay a $1 tax on each pizza sold. Illustrate the effect of this tax on the pizza market. being sure to label the consumer surplus. producer surplus. government revenue. and deadweight loss. How does each area compare to the pretax case? c. If the tax were removed. pizza eaters and sellers would be better off. but the government would lose tax revenue. Suppose that consumers and producers voluntarily transferred some of their gains to the government. Could all parties {including the government) be better off than they were with a tax? Explain using the labeled areas in your graph Q3. Suppose that a market is described by the following supply and demand equations: [2 Marks] Q5 = 2P QD = soo P a. Solve for the equilibrium price and the equilibrium quantity. b. Suppose that a tax ofT is placed on buyers= so the new demand equation is QD = 330 [P + T). Solve for the new equilibrium. 'What happens to the price received by sellers= the price paid by buyers: and the quantity sold? c. Tax revenue is T X Q. Use your answer to part (b) to solve for tax revenue as a function of T. Graph this relationship for T between II} and 333. d. The deadweight loss of a tax is the area of the triangle between the supply and demand curves. Recalling that the area of a triangle is l x? 2; base I; height= solve for deadweight loss as a function of T. Graph this relationship for T between D and 30C}. (Hint: Looking sideways= the base of the deadweight loss triangle is T= and the height is the difference between the quantity sold with the tax and the quantity sold without the tax.) e. The government now levies a tax on this good of $200 per unit. Is this a good policy? 'Why or why not? Can you propose a better policy