Information for questions 2-8 The figure below shows supply…
Information for questions 2-8 The figure below shows supply and demand for a certain good. On the horizontal axis, the quantity Q has grid spacing of 10 units of the good. On the vertical axis, each grid spacing represents $0.5. Adhere to the following convention, which is necessary to get exact answers: if a line (the supply curve or the demand curve) seems to cross an intersection of the grid, then by convention assume that it does. For example, the tip of the supply line seems to be at P=5, Q=160, so we’ll assume that it crosses the grid at exactly that point, that is, that when the price P=5, then the supply is Q=160, exactly. All answers are positive numbers, except (possibly) the answer to question 7. Only exact answers are accepted, so please make sure to check and doublecheck your reasoning and your calculations. If the answer cannot be obtained with the information given, enter the number 0. The government imposes a sales tax on this good of $1.50 per unit sold. Calculate the change in consumer surplus due to the tax, that is, calculate the number: CSAT – CSBT, where CSAT is the consumer surplus after the tax is imposed, and CSBT, is the consumer surplus before the tax is imposed. This number can be positive, if the consumers gained with the tax, and negative, if consumers lost with the tax. You must enter the number with the right sign.