d) '3) Draw a graph showing the equilibrium in the disposable diaper market before any policy action. Add to this diagram the proposed tax on paper diapers and illustrate the price paid by consumers and the price received by suppliers after the imposition of the tax. Illustrate on your diagram how much revenue will be raised by the paper diaper tax. Who will bear the burden of this tax? Show this on the diagram. What will affect who will hear more of the burden of this tax? What will determine how much of a reduction in the use of disposable diapers will be caused as a result of the tax? In the market for apartments, the statuton incidence of the property tax is on landlords (the suppliers of apartments). Consider rst an urban housing market with many small communities that renters can live in. _ in any community is relatively elastic (renters can live in any one of the communities and commute to work). The supply of apartments, however, is relatively inelastic since there is little room in the urban area to build new apartment complexes. Using this information, create a diagram that illustrates the impact of the property tax on the price paid by renters for an apartment and the price received by landlords for an apartment. Now consider a more rural housing market. The demand for apartments is relative inelastic but the supply of apartments is relatively elastic since there is plenty of room to build more apartment complexes. Using this information, create a diagram that illustrates the impact of the property tax on the price paid by renters for an apartment and the price received by landlords for an apartment. Finally, consider an urban housing market in which the supply of apartments is perfectly inelastic and the demand for apartments is relatively elastic. Using this information, create a diagram that illustrates the impact of the property tax on the price paid by renters for an apartment and the price received by landlords for an apartment. What is the deadweight loss associated with the property tax in this case