Suppose the weekly demand for a certain good in thousands of units, is given by the equation P = 39 - Q, and the weekly supply curve of the good by the equation P = 3 + 20 where P is the price in dollars. Finally, suppose a per-unit tax of $24, to be collected from sellers is imposed in this market. Complete the following questions. Note: If necessary round your answers to two decimal places. 3) Graph the weekly demand, supply (pre-tax), and supply (post-tax) equations. v Supply Curve (without tax) 6 81012141618 Quantity (thousands of units/week] a b) What is the equilibrium price before the tax? [Equilibrium Price = $i| c) What is the Consumer and Producer Surplus before the tax? Note: Remember that the quantity of units on the graph are in thousands. Producer Surplus = $I Consumer Surplus = $I d) What is the new Consumer and Producer surplus after the tax is imposed? Note: Remember that the quantity of units on the graph are in thousands. Producer Surplus = $ Consumer Surplus = $ e) How much government revenue will this tax generate a week? Note: Remember that the quantity of units on the graph are in thousands. lGovernment Revenue = $I per week |