The following graph shows the weekly market for craft beer in some hypothetical economy. Suppose the government levies a tax of $46.40 per case. The tax places a wedge between the price buyers pay and the price sellers receive. 200 180 160 Suppl 140 + e 120 Tax Wedge 100 + + 80 PRICE (Dollars per case) 60 40 20 Demand 0 } } + + + } f + + 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Cases of craft beer) Complete the following table by filling in the quantity sold, the price buyers pay, and the price sellers receive before and after the tax. Quantity Price Buyers Pay Price Sellers Receive (Cases of craft beer) (Dollars per case) Before Tax (Dollars per case) After Tax Using your answers from the previous table, calculate the tax burden that falls on buyers and on sellers, respectively, and calculate the price elasticity of demand and supply over the relevant ranges using the midpoint method. Enter your results in the following table. Tax Burden (Dollars per case) Elasticity Buyers v Sellers v The tax burden falls more heavily on the side of the market that is elastic