Part 2b. In cells B13:B16 enter the parameters a thru d calculated in A4 but with the tax on consumers incorporated appropriately (4 pts). The tax on consumers goes in cell C11. (Parameters can be entered as numbers rather than formulas.) Using formulas to be entered into the following cells, calculate: 1. (2 pts) the new Qe in cell C13 2. (2 pts) the new Pe in C14 3. (10 pts) Consumer's surplus, producer's surplus, tax revenue, economic surplus, and deadweight loss at the new equilibrium in E13, E14, E15, E16, and E17, respectively 4. (4 pts) the tax incidence in absolute dollars on consumers and producers in G14 and G15, respectively 5. (4 pts) the tax incidence as a percentage of the total tax on consumers and producers in H14 and H15, respectively Formulas must be used when instructed. Merely typing in a value, even if it is correct, will result in no credit. Furthermore, in doing the formulas, use cell reference as much as possible rather than typing in numerical values (20 pts). Display all answers, including percentages, rounded to 2 decimals (2 pts), with the exception of DWL which needs to be displayed with 4 decimals (2 pts). Send me your write-up and Excel as two attachments in a single email by the deadline. Use this nomenclature for both files: Last Name, First Name ECON 101 A5 Write-Up, which would be Roethlisberger, Alexandria ECON 101 A5 Write-Up for the write-up and Roethlisberger, Alexandria ECON 101 A5 for the Excel file (2 pts). The write-up must be handwritten and the file convert to a pdf. Assumption 1 Terms of Trade: 0.00 cherries per apple Assumption 2 Jack trades up to 0.00 Jack's Production Possibility Frontier... 25 20 ....without Trade 15 ... with Trade 10 Jack's Production & Consumption of: Without Trade With Trade Cherries Apples Cherries Apples 0.00 22.00 0.71 20.95 1.43 19.90 2.14 18.86 2.86 17.81 3.57 16.76 4.29 15.71 5.00 14.67 5.71 13.62 6.43 12.57 7.11 11.52 7.86 10.48 8.57 9.43 9.29 8.38 10.00 7.33 10.71 6.29 11.43 5.24 12.14 4.19 12.86 3.14 13.57 2.10 14.29 1.05 15.00 0.00 Jill's Production & Consumption of: Without Trade With Trade Cherries Apples Cherries Apples 45.00 0.00 42.86 0.95 40.71 1.90 38.57 2.86 36.43 3.81 34.29 4.76 32.14 5.71 30.00 6.67 27.86 7.62 25.71 8.57 23.57 9.52 21.43 10.48 19.29 11.43 17.14 12.34 15.00 13.33 12.86 14.29 10.71 15.24 8.57 16.19 6.43 17.14 4.29 18.10 2.14 19.05 0.00 20.00 Apples 5 0 0 5 10 15 20 Cherries Jill's Production Possibility Frontier... 20 ....without Trade 15 +...with Trade 10 Jack's OC. - 1.47 Apple is the fruit that Jack has a comparative advantage in lack's OC, = 0.68 Cherry is the fruit that will has a comparative advantage in. Jill's OC.-0.11 Jills's OC -2.25 Min Max Trade benefits both when the terms of trade of cherries per apple is between: : is the midpoint of the range of terms of trade in which Jack and Jill both benefit from trade Apples 5 0 0 10 20 30 40 50 Cherries Part 2b. In cells B13:B16 enter the parameters a thru d calculated in A4 but with the tax on consumers incorporated appropriately (4 pts). The tax on consumers goes in cell C11. (Parameters can be entered as numbers rather than formulas.) Using formulas to be entered into the following cells, calculate: 1. (2 pts) the new Qe in cell C13 2. (2 pts) the new Pe in C14 3. (10 pts) Consumer's surplus, producer's surplus, tax revenue, economic surplus, and deadweight loss at the new equilibrium in E13, E14, E15, E16, and E17, respectively 4. (4 pts) the tax incidence in absolute dollars on consumers and producers in G14 and G15, respectively 5. (4 pts) the tax incidence as a percentage of the total tax on consumers and producers in H14 and H15, respectively Formulas must be used when instructed. Merely typing in a value, even if it is correct, will result in no credit. Furthermore, in doing the formulas, use cell reference as much as possible rather than typing in numerical values (20 pts). Display all answers, including percentages, rounded to 2 decimals (2 pts), with the exception of DWL which needs to be displayed with 4 decimals (2 pts). Send me your write-up and Excel as two attachments in a single email by the deadline. Use this nomenclature for both files: Last Name, First Name ECON 101 A5 Write-Up, which would be Roethlisberger, Alexandria ECON 101 A5 Write-Up for the write-up and Roethlisberger, Alexandria ECON 101 A5 for the Excel file (2 pts). The write-up must be handwritten and the file convert to a pdf. Assumption 1 Terms of Trade: 0.00 cherries per apple Assumption 2 Jack trades up to 0.00 Jack's Production Possibility Frontier... 25 20 ....without Trade 15 ... with Trade 10 Jack's Production & Consumption of: Without Trade With Trade Cherries Apples Cherries Apples 0.00 22.00 0.71 20.95 1.43 19.90 2.14 18.86 2.86 17.81 3.57 16.76 4.29 15.71 5.00 14.67 5.71 13.62 6.43 12.57 7.11 11.52 7.86 10.48 8.57 9.43 9.29 8.38 10.00 7.33 10.71 6.29 11.43 5.24 12.14 4.19 12.86 3.14 13.57 2.10 14.29 1.05 15.00 0.00 Jill's Production & Consumption of: Without Trade With Trade Cherries Apples Cherries Apples 45.00 0.00 42.86 0.95 40.71 1.90 38.57 2.86 36.43 3.81 34.29 4.76 32.14 5.71 30.00 6.67 27.86 7.62 25.71 8.57 23.57 9.52 21.43 10.48 19.29 11.43 17.14 12.34 15.00 13.33 12.86 14.29 10.71 15.24 8.57 16.19 6.43 17.14 4.29 18.10 2.14 19.05 0.00 20.00 Apples 5 0 0 5 10 15 20 Cherries Jill's Production Possibility Frontier... 20 ....without Trade 15 +...with Trade 10 Jack's OC. - 1.47 Apple is the fruit that Jack has a comparative advantage in lack's OC, = 0.68 Cherry is the fruit that will has a comparative advantage in. Jill's OC.-0.11 Jills's OC -2.25 Min Max Trade benefits both when the terms of trade of cherries per apple is between: : is the midpoint of the range of terms of trade in which Jack and Jill both benefit from trade Apples 5 0 0 10 20 30 40 50 Cherries