Provide the best response to each of the following: Supply PRICE Demand 6 10 15 20 26 30 36 40 45 50 65 60 QUANTITY Given the market below showing the effects of a tax on a market, 1. After the tax; what is the price buyers pay and what is the price sellers receive? 2. How much is the decline in the quantity sold? 3. What is the size, dollar amount, of the tax? Given the market below showing the effects of a tax; PRICE Demand N E 6 9 12 16 18 21 24 27 30 33 36 QUANTITY 1. What is the size of the deadweight loss resulting form the tax? Note use the letters to note the area. 2. What is the size of the tax revenue from the tax? Note use the letters to note the area. 3. If the supply curve in the diagram above was more inelastic would the size of the deadweight loss be larger or smaller? 4. If the demand curve in the diagram above was more elastic would the size of the deadweight loss be larger or smaller