Researchers found that excess consumption of sugar would contribute to many diseases such as type 2 diabetes, obesity, tooth decay and cardiovascular disease. In 2018, the UK government introduced sugar tax on soft drinks industry and the manufacturers are taxed according to the volume of sugar- sweetened beverages they produce. Assume the UK soft drinks' price elasticity of demand is inelastic. a. [3 marks] Explain how the sugar tax may have an impact on consumer price, producer price, and quantity of soft drinks sold in the UK. b. [5 marks] Draw a diagram of demand and supply to demonstrate the impact on soft drinks industry before and after the sugar tax was applied. c. [5 marks] Show tax revenue area in the diagram in (b). Explain whether consumers or manufacturers are likely to take more tax burden in this situation. d. [2 marks] Do you think sugar tax is an appropriate policy to deal with the public health concerns?