(A) What is the equilibrium price and quantity? Equilibrium price Equilibrium quantity (B) Suppose the government imposes a $300 excise tax on smart phones Draw in the new supply curve labelled S +tax in the graph plot the endpoints of the curve above and position those points on the edges of the graphing area. (C) what is the new equilibrium price and quantity New equilibrium price New equilibrium quantity

Suppose graph below depicts the market for smart phones. 5 Price ($) D 10 Tools 1200 points 1 1000 S +TAX eBook Print 800 References 600 400 200 O 0 150 300 450 600 GL 900 1050 1200 1350 1500 1650 1800 Quantity per month