Question B2 The demand and supply equations for cookery lessons at Wayne's Excellent Cookery School are represented by the following equations, with P representing the price of lessons () and Q representing cookery lessons: P = 1602QD P = 10 + 3Qs a. Calculate the equilibrium price and quantity of cookery lessons. [2 marks] [2 marks] b. Calculate the consumer and producer surplus at this point. c. Show the equilibrium graphically, identifying consumer and producer surplus. [3 marks] d. If a tax is placed on supply of 15 per lesson, calculate the effect that that will have on price, quantity, consumer and producer surplus and deadweight loss. [4 marks] e. Show this on your diagram or construct a new diagram showing this, clearly identifying the incidence of the tax on the consumer and the area corresponding to deadweight loss. [5 marks]