Suppose the inverse demand and supply curves are given by (where Qs and Qd are quantities P is price): Demand: P = 35 - (1/3)Qd Supply:

Suppose the inverse demand and supply curves are given by (where Qs and Qd are quantities P is price): Demand: P = 35 – (1/3)Qd Supply: P = 5 + (2/3)Qs  

Suppose that instead of the price floor the government chooses to levy a $9/unit tax on sales of this good. What is the quantity sold in the market? What price do consumers pay? producers receive? Calculate the burden of the tax for consumers and producers on a per unit basis