(a) Given the equation below, construct a supply and demand diagram for a product which identifies a market equilibriu

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(a) Given the equation below, construct a
supply and demand diagram for a product which identifies a market
equilibrium price of $6.00 and a market equilibrium quantity of 100
units. At the price of $8.00 the quantity demanded by consumers is
zero. (5 marks)
Hint: Use the “Topic 2_Demand and Supply Algebraically”
notes to help answer this question
P = 2.00 + 0.04*Q
(b) Use the same diagram as in (a) to show the
imposition of a $0.90 tax on consumers of the product. What are the
new consumer and producer prices and quantity traded in the market?
(6 marks)
(c) How much of the tax
is borne by sellers and how much of the tax is borne by consumers?
(2 marks)
(d) Calculate the tax revenue received by
the government and show this area on your diagram. (3 marks)
(e) Calculate the deadweight loss and
show this area on your diagram. (4 marks)