What is the price paid by the consumer before tax is imposed

Question

Problem

Consider a mineral that is in fixed supply, Q^S = 4. The demand for the mineral is given by Q^D = 10 - 2p, where p is the price per pound, and Q^D is the quantity demanded. The government imposes a tax of $2 per pound on the consumer,

a. What is the price paid by the consumer before the tax is imposed, and in the post-tax equilibrium?

b. What is the price received by producers?

c. How much revenue is raised?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.