Suppose the government imposes an excise tax on commercial fans. The black line on the following graph shows the tax wedge created by a tax of $60 per fan. First, use the tan quadrilateral (dash...

Extracted text: Suppose the government imposes an excise tax on commercial fans. The black line on the following graph shows the tax wedge created by a tax of $60 per fan. First, use the tan quadrilateral (dash symbols) to shade the area representing tax revenue. Next, use the green point (triangle symbol) to shade the area representing total consumer surplus after the tax. Then, use the purple point (diamond symbol) to shade the area representing total producer surplus after the tax. Finally, use the black point (plus symbol) to shade the area representing deadweight loss. After Tax 150 135 Demand Tax Revenue 120 105 Consumer Surplus 90 Tax Wedge 75 Producer Surplus 60 45 Supply 30 Deadweight Loss 15 PRICE (Dollars per fan)


Extracted text: 75 Producer Surplus 60 45 Supply 30 Deadweight Loss 15 100 90 80 70 80 40 50 30 10 20 QUANTITY (Fans) Complete the following table by using the previous graphs to determine the values of consumer and producer surplus before the tax, and consumer surplus, producer surplus, tax revenue, and deadweight loss after the tax. Note: You can determine the areas of different portions of the graph by selecting the relevant area. After Tax Before Tax (Dollars) (Dollars) Consumer Surplus Producer Surplus Tax Revenue Deadweight Loss PRICE (Dollars pe