Consider the market for Smart Watches. 12)(4) Is the market for Smart Watches perfectly competitive? Why? Regardless of your answer to question 12, assume the Smart Watch market is properly modeled using the perfectly competitive model. The (inverse) market demand for Smart Watch is P =24- -Q and the supply curve is given by P =- 13)(4) Find and Graph the equilibrium price and quantity in the market for Smart Watches. The government considers imposing a tax of $4 per Smart Watch. 14)(4) Find and sketch the proposed tax's post-tax equilibrium 15)(4) What would be the incidence of the tax on the consumer and the producer? 16)(4) Identify any deadweight loss because of this tax on your diagram from question 14. What would be the value of any deadweight loss to welfare