Question 1 In class, we went over the budget constraints for quantity tax, ad valorem tax, and lump sum tax. It is your turn to draw the budget constraints for quantity subsidy, ad W subsidy, and lump sum subsidy. Make sure you have the slope of the new BC, the horizontal intercept, and the vertical intercept. Show your calculations where necessary and mark your axes accordingly. (a) With quantity subsidy (s): (b) With ad valorem subsidy (0): (c) With lump sum subsidy (LS): Here, you should have three separate graphs