Section II: Part A. 1. Refer to the graph. Assume the government Price has imposed an excise tax of $60 on producers in this market. $120 a. What quantity will be sold in the market? b. What price will consumers pay in the market? 90 c. By how much will consumer surplus change as a result of the tax? d. By how much will producer surplus change 60 as a result of the tax? e. How much revenue will the government collect from this excise tax? 30 f. Calculate the deadweight loss created by the tax. 1,000 2,000 3,000 Quantity