The demand and supply functions for golf lessons are:

P=200-5Q

P=92+4Q

a. Calculate the equilibrium price and quantity algebraically.

b. Graph demand and supply curves, show equilibrium and label all axes, curves, and

intercepts.

c. Calculate the consumer surplus, producer surplus, and total surplus at equilibrium.

d. The government imposes a tax of $9 per lesson.

i. Write down the equation of the supply function adjusted for tax, hence graph it on

the same diagram as in part b above.

ii. Calculate the equilibrium price and quantity when the tax is imposed.

iii. How much will consumer pay and how much will producer receive?

iv. After the tax is imposed, calculate the consumer surplus, producer surplus,

governmental revenue, and total surplus. Calculate the deadweight loss.