Suppose the government is thinking about imposing higher taxes on fast-food restau- rants. As a new… Show more Suppose the government is thinking about imposing higher taxes on fast-food restau- rants. As a newly minted economist/policy analyst, you have been hired to analyze the impact of this policy on low-income consumers. Suppose the supply curve for fast-food has the typical upward slope. (a) suppose low-income consumers are able to easily substitute away from fast-food when prices change. Graphically depict the amount of the fast-food tax that is paid by the low-income consumer. (b)suppose that in contrast to part a, consumers are not easily able to substitute away from fast food when prices change. Graphically depict the amount of the fast-food tax that is paid by the low-income consumer. • Show less