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Question 4 (3 points) Continue with the assumption that the world price is still $ 80 and that the oil sands oil production still generates negative externalities of $ 40 per barrel. Now suppose a $ 40 tax on all oil production, regardless of the production site. (Note: there is no longer a green tax of $ 40 per barrel on oil extraction from oil sands). Graph 1 : Market for Oil in Canada 160 140 120 100 80 Price of a barrel of oil ($ US) 60 40 20 0 0 100 200 300 400 500 600 700 800 900 1000Barrels of oil (millions per year) Using the previous graph, answer the following questions: 1. Quantity consumed on the domestic market 2. Quantity extracted by Canadian producers 3. Quantity traded with the rest of the world