Also, I want to make sure I've understood the dynamics of bearing the tax burden. The tax will affect the final price directly, right? Once the tax is placed, quantity demanded will decrease according to demand elasticity, so the only consumers buying the product will be the ones willing to pay the price + tax, am I right? So in this case, the tax will lead to loss of potential consumers. Can this loss be seen in terms of deadweight loss?

Regarding producers, the tax will decrease quantity demanded and, consequently, quantity supplied as well. So the deadweight loss represents the loss of what producers could have produced and earned, haven't the tax been placed?

Am I right?Thank!