Demand Supply 7 PRICE 3 60 100 QUANTITY Description of Figure 1: A graph of price, P, versus quantity, Q, shows a supply curve, S, rising linearly through points (60, 3) and (100, 5), and a demand curve, D, descending linearly from (50, 7) through (100, 5) . The curves intersect at (100, 5). Refer to Figure 1. Suppose a tax of $2 per unit is imposed on this market. What will be the new equilibrium quantity in this market? Less than 60 units 60 units Greater than 100 units Between 60 units and 100 units