(Solved): just need number 7 4. Calculate the consumer burden. Show your work. The consumer burden is $5. The ...

4. Calculate the consumer burden. Show your work. The consumer burden is $\$5$. The price that is in equilibrium is $\$15$, and the amount that is in equilibrium is 130 . The amount that is in balance is 90 after taxes. Customers pay $\$20$, and sellers get $\$12$ in return. 5. Calculate the producer burden. Show your work. The producer burden is $\$3$. The price that is in equilibrium is $\$15$, and the amount that is in equilibrium is 130 . The amount that is in balance is 90 after taxes. Customers pay $\$20$, and sellers get $\$12$ in return. 6. Given your answers to questions (4) and (5), which side of the market is more elastic? Why? (Use your intuition. You do not have to calculate the Ed and Es) The consumer burden is $\$5$. The producer burden is $\$3$. The side of market which is more elastic pays a lower burden of tax. When price rises due to tax, there is a higher fall in the quantity when price is elastic. So the more elastic price is lower will be the tax burden . 7. How much tax revenue did the government collect? Show your work?