Suppose that the (inverse) demand equation is given by P = 40 - 2Q while the supply equation is given by P = 4 + Q. Prices are measured in dollar ($). a) Calculate the equilibrium price and quantity and the price elasticity of demand at equilibrium. b) Calculate consumer surplus, producer surplus and total surplus at equilibrium. c) Suppose the government imposes a tax of $2 per unit of output on sellers. Derive the new supply curve and calculate the new equilibrium price and quantity as well as the deadweight loss due to the tax.