Suppose you have the following equations:

P = 100 - 2Q^d

P = 40 + 4Q^s

(a) Draw the curves and find the intercepts and slopes.

(b) Calculate the equilibrium price and the equilibrium quantity.

(c) Show and calculate the consumer and the producer surplus in equilibrium.

(d) Calculate the elasticity of supply at equilibrium and interpret your answer.

(e) If there is a tax of T dollars, who do you think bear a larger burden of the tax. Explain briefly.