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Suppose Suzuki has the following demand and supply function for Cultus VXL: Q d = 55 - 5PQ s = -50 + 10P After the

Suppose Suzuki has the following demand and supply function for Cultus VXL:

Qd = 55 - 5PQs = -50 + 10P

After the government decided to impose tax on the production of Cultus VXL, the new supply function:

Qs = -60 + 10P

Given the information above answer the following questions:

i)Find out the equilibrium price and quantity before tax.

ii)Find consumer and producer surplus before tax.

III) Determine government revenue and dead weight loss after tax

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