 The new equilibrium price will sit between $3.00 and $3.50 and the equilibrium quantity will decrease.If we say that the consumers pay $3.30 and the new equilibrium quantity is 80, then the producers keep $2.80 and the total tax revenue equals $0.50 x 80 = $4.00.The burden of the tax paid by buyers is $0.30 x 80 = $2.40 and the burden paid by sellers equals $0.20 x 80 = $1.60.