answer fast pls

own is changing with time. 8. A market has supply and demand functions given by q (p) = p-1 and q (p) = 3 -p, respectively. (a) Find the equilibrium price and quantity for this market. The government wants to impose an excise tax of T per unit on the market. That is, if the price including the tax is pr, then the equilibrium price is now determined by the equation q's (PT - T) = q' (PT). (b) Find the equilibrium price and quantity for this market in the presence of this tax. How much of the tax would be passed onto the consumer? For what values of T will this equilibrium be economically meaningful? (c) Write down an expression for the government's tax revenue. Find the value of T that will maximise this revenue. A firm supplies an equilibrium quantity of goods to this market at the equilibrium price and has a cost function given by C(q) = 4q2. (d) Find the firm's gross (i.e. pre-tax) profit as a function of T. Sketch this profit function. What value of T would the firm like the government to choose? END