Suppose the demand and supply curves for coal in a country are as follows, where p is $ per ton and Q is millions of tons per year:

Q_D = 500 - 5p_B Q_S = 100 + 3p_S

• Calculate market equilibrium p*: $
• Calculate market equilibrium Q*: million tons

Suppose a tax of $40 per ton is introduced to the coal market (above), collected from the sellers:

• Calculate net-of-tax equilibrium price paid by buyers: $
• Calculate net-of-tax equilibrium price received by sellers: $
• Calculate after-tax equilibrium quantity of coal: million tons
• Of the $40 per ton in tax, how much is paid by buyers? $