4. Suppose the demand function is p = 100 0.01x and the supply function is p = 10 + 0.02x. 4.1. Find the equilibrium price and quantity. Plot the supply and demand function. 4.2. Find consumer surplus, producer surplus and total welfare. 4.3. Suppose the government imposes a tax of 30 per unit sold on the seller. Find again the equilibrium price and quantity, consumer surplus, producer surplus, Total welfare and the tax income of the government. Explain who is paying the burden of the tax. 4.4. Suppose the government imposes a tax of 30 per unit bought on the buyer. Find again the equilibrium price and quantity, consumer surplus, producer surplus, total welfare and the tax income of the government. Explain who is paying the burden of the tax. 5. The demand and supply for calculators at a university stationery shop are given by the following equations: x = 24,000 500p and x = 6,000 + 1,000p 5.1. Find the equilibrium price and quantity. 5.2. Assume it is the week after the final exams. Which of the following functions might be the new demand curve? Find the new price and quantity after the shift in demand. x = 21,000 500p x = 27,000 + 500p 5.3. If instead a second stationery shop opens at the university. Which of the following might be the new supply curve? Find the new price and quantity after the shift in supply. x = 4,000 + 1,000p x = 9,000 + 1,000p