While visiting Queens, Akeem and Semmi observed residents tossing their trash onto the street. Feeling this was a nuisance, they successfully lobbied for a $40 tax on owners of motel rooms in the area.

1. What is the equilibrium price after the tax?

2. What is the buyers' price after the tax?

3. What is the sellers' price after the tax?

4. Who is more responsive to price changes, buyers or sellers? Youmustshow work to receive credit.

5.How much resource misallocation is caused by the tax?

6. How much deadweight loss is caused by the tax?