Suppose the market demand and supply curves for gasoline are given by the equations QB: 38 3*P and Q8: P 2 Solve for the equilibrium price and quantity. Graph your results. Find the amount of consumer and producer surplus. 0 Government ofcials fear that too much gasoline is being consumed at the market equilibrium, leading to concems about health and safety of the populace. In response the government imposes an excise tax of $2 on the producers of mead. Calculate the new equilibrium prices and quantity. Plot the new equilibrium on your graph and label consumer surplus, producer surplus, and tax revenues. Was the tax effective in reducing the quantity of mead consumed? What is the incidence of the tax on consumers and producers