The Quebec maple syrup market consists of the following supply and demand Qs = 40p Qd = 150 – 20p where Q is the number of bottles of maple syrup per year (in millions), and p is the price per bottle. a) Compute the market equilibrium price and quantity. b) Calculate the price elasticities of demand and supply at the equilibrium price/quantity. c) Quebec imposes a tax of $0.90 per bottle. Suppliers pay this tax to the government. Compute the after-tax price and quantity. How much do suppliers receive net of tax (per bottle)? d) Demand for maple syrup is generally more elastic over longer periods of time as consumers have more time to change the taste. What does this imply about the tax incidence in the long run as compared to the short run?