THANK YOU~

Question 1 [24 points] Suppose the weekly demand for a certain good in thousands of units, is given by the equation P = 30 - Q, and the weekly supply curve of the good by the equation P = 10 + Q where P is the price in dollars. Finally, suppose a per-unit tax of $6, to be collected from sellers is imposed in this market. Complete the following questions. Note: If necessary round your answers to two decimal places a) Graph the weekly demand, supply (pre-tax), and supply (post-tax) equations. v Supply Curve (with tax) ''t'' '1'0'1'2'1a'1'6'1'8' Quantity (thousands of units/week) b) What is the equilibrium price before the tax? Equilibrium Price = as] 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 = $ Consumer Surplus = $ b) What is the equilibrium price before the tax? Equilibrium Price = $ 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 = $ Consumer Surplus = $ 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 = 35 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. Government Revenue = $ per week