6. The table below presents the annual market for sofas in Akron, Ohio. Suppose the state government imposes a $150 excise tax on every sofa sold to be paid by customers at the point of sale.

Market for Sofas

Price (dollars)	Quantity of Sofas Demanded	Quantity of Sofas Supplied	Quantity of Sofas Demanded with Excise Tax
$1,240	240	290	90
1,180	270	270	120
1,120	300	250	150
1,060	330	230	180
1,000	360	210	210
940	390	190	240
880	420	170	270
820	450	150	300
760	480	130	330
700	510	110	360

Instructions:Enter your answers as a whole number.

a. Before the excise tax is imposed, what are the equilibrium price and quantity of sofas in Akron?

P= $

Q= sofas

b. Including the excise tax, what is the new equilibrium price consumers pay for sofas after the tax is imposed?

$

c. After the excise tax is imposed, what is the new equilibrium quantity of sofas?

sofas

d. What is the total amount of revenue collected by the governmentfrom theexcise tax on sofas?

$

7. The demand and supply schedules for sunscreen at a small beach are shown below.

Market for Sunscreen

Price (dollars per bottle)	Quantity of Sunscreen Demanded (bottles)	Quantity of Sunscreen Supplied (bottles)
$25	1,000	2,500
20	2,000	2,000
15	3,000	1,500
10	4,000	1,000
5	5,000	500
0	6,000	0

Instructions:Enter your answers as a whole number.

a. If the price is $10 per bottle,how many bottles of sunscreen are demanded and supplied in equilibrium?

Q_d= bottles

Q_s= bottles

In this case, there would be (Click to select) downward upward no pressure on the price.

b.What isthe equilibrium price and quantity in the market for sunscreen?

P=$

Q= bottles