a journal needed also show all the procedures step by step:

Consider the market for cheeseburgers in Canada, where P= 20 -0.5Qd & P = 4 + 0.5Qs, where Q is one burger.

a. Calculate the equilibrium price and quantity of cheeseburgers.

b. Calculate consumer surplus.

c. Calculate producer surplus.

d. Calculate total surplus.

e. Now, suppose the government implements a tax on cheeseburgers in an attempt to reduce fast food consumption. The new supply curve, with the tax is: P= 6 + 0.5Qs. Calculate the change in consumer surplus, producer surplus and total surplus.

Below important Hint:

Correctly calculates the equilibrium price and quantity of cheeseburgers.

Correctly calculates consumer surplus.

Correctly calculates producer surplus.

Correctly calculates total surplus.

Correctly calculates the change (after the new tax on cheeseburgers is implemented) in consumer surplus, producer surplus and total surplus.