Refer to the interactive be Tax Burden GRAPH Tax Burden On SETTINGS Reset ($) Price Tax imposed on: Supply Demand 90 Excise Tax (0 - $20) 11.00 80 S+T $73.00 70 S Demand 60 Perfectly Relatively Inelastic Elastic 50 Relatively Elastic . . . 40 Supply Less Perfectly 30 $32.00 Elastic Relatively Elastic 20 10 CALCULATIONS 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity Price Paid Quantity (thousands per week) No Tax $50.00 4,000 Burden on Burden on Tax Revenue Welfare Loss the Consumer the Producer (Deadweight Loss) With Tax Tax Paid Tax Paid $56.17 2,926 Instructions: Adjust the sliders so that the vertical intercept of the supply curve is $32.00 and the vertical intercept is $73.00 for the demand curve. Represent a $11.00 tax that is paid by sellers. Click the Tax Burden switch above the graph to show areas that represent some of the effects on consumer and producer surplus. Report all answers as positive values to two decimal places. a) How much revenue does the government earn from this tax? $ 33000 x b) How much of the government's revenue would have been consumer surplus had there not been a tax? $ 18510 c) How much of the government's revenue would have been producer surplus had there not been a tax? $ 14490