Q4 (5 points) The equations below represent the closed Canadian market for gas, which we assume to be competitive. P is the price of each litre of gas in cents and Q is measured in thousands of litres (Q = 1 means 1,000 litres). Demand: P = 300-16Q D Supply: P = 120 + 8Qs Suppose initially the market is perfectly competitive. Now suppose the Canadian government decides to tax sellers 60 cents on each litre of gas sold. Calculate the loss of market inefficiency that arises when the tax is introduced. Please quote your answer in cents. Don't forget to convert your answer to reflect the units appropriate to this problem. . To receive full marks, you must illustrate a graph with areas clearly labeled with letters so the TA can follow your work and calculations. . Refer to the lettered-areas when you calculate the "new" and "original" scenario. For example, if the problem asks you to quantify the change in CS, you should derive ACS = CSnew- CSold, instead of just identifying ACS. . Only one numerical calculation is required for the