8. Look at the graph below. Assume that the x-axis is soda and the y-axis is All Other Goods. Explain what happens according to the graph when we put the $0.25 tax on soda. (5 points) Where do we end up in terms of consumption with no compensation? (5 points) Where would we end up if we compensated soda drinkers for their loss? (5 points) \"Hap \" I * a\" 9. Explain your rationale for classifying each of the following economic goods (hint: this is the whole excludability and rivalry thing). {3 points each) Once you come to a conclusion, tell me how it might be possible to alter your rationale to place the good in another category. (3 points each} a. Internet Service: Public: because internet is non excludable, non rival. However, internet service could be excludable if the consumer does not have access to public internet service, like at a public library then it would be a natural monopoly. Prescription drugs: Natural monopoly: because prescription drugs are excludable, non rival. However, if you are receiving some drugs in treatment for an illness then you are using them up, no other consumer can use them at the same time it would be Private. Courts: Public: because courts are non excludable, non rival. However, Courts could be non- rival up to a certain capacity, crowding means that each additional consumer decreases speed for other consumers it would be common pool