5. Assume that there is a new federal law that places a 200 percent excise tax on the sale of yachts. P S P S P S P 0 Yachts Luxury Boat Yacht Cars Marinas Workers Demand: 1 - $ Supply: 1 - $ Equilibrium price: Equilibrium quantity: 6. Assume that the government imposes a tariff or tax on foreign steel to save the jobs of American steel- workers. Steel is a major component of automobiles. P S P S S D D 0 0 0 Foreign U.S. Automobiles Autoworkers Ol Steel Steel Demand: Supply: Equilibrium price: Equilibrium quantity