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(10) The annual demand for liquor in a certain state is given by the following equation: QD-500.000-20.000P where P is the price per gallon and Qo is the quantity of gallons demanded per year. The supply of liquor is given by the equation Qs-30.000P. Now assume that a unit tax of iS is levied on the sellers of the commodity (i.e. statutory incidence is on the producers). (a) Just by looking at the slopes of the demand and supply curves could you tell who will carry a larger burden of the tax? is the price received by the producer after the tax? (c) What is the price paid by the consumer? (d) What is the after tax level of equilibrium output? (e) What is the governments tax revenue? () Determine how much of the total tax is actually paid by the consumer. (g) Determine how much of this total tax is actually paid by the producer (h) Compute the social welfare loss(i.e., dead-weight loss) associated with this unit tax.

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