(Solved): Use the supply and demand curves below to answer the following questions. Demand: Price \( =100-2 ...

Use the supply and demand curves below to answer the following questions. Demand: Price \( =100-2 * Q+I \) Supply: Price \( =15+3^{*} Q \) where \( / \) is consumers' income. Suppose that the government imposes a tax of \( \mathrm{T} \) on the consumer. In the space below write out the new demand curve. HINT: remember how changes in taxes shift the demand curve. Using the supply curve and your demand curve given above find the new equilibrium quantity as a function of T and I. QUESTION 3 How does the tax revenue change as consumer income changes? Hint: Recall that the revenue generated by a tax is the amount of the tax multiplied by the number of goods bought/sold. Increase Decrease Stay the same Not enough information given. Using excel and your equation from 4, plot how the tax revenue changes as \( \mathrm{T} \) increases. Assume income is 15 . HINT: Revenue will be on your \( y \)-axis and the tax \( (0,1,2,3, \ldots) \) will be on your \( x \)-axis. Paste your plot in the space below. Attach File QUESTION 5 Assume income is 15. Given this information, find the revenue-maximizing tax. QUESTION 6 Assume income is 15 . Given this information, find the tax revenue that would be generated at the tax revenuemaximizing tax.