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Question 2: The table below shows the demand and supply schedule for cell phones. The government asks your advice about the effects of an excise tax of $ 400 per cell phone. Assume no administrative costs from the tax. Price Quantity of cell phones demanded (thousands) 1 Quantity of cell phones supplied (thousands) 2 3 5 $ 700 $ 600 $ 500 $ 400 $ 300 $ 200 $ 100 4 5 -N 07 4 3 2 1 a) Without the excise tax, what is the equilibrium price and the equilibrium quantity of cell phones transacted b) The excise tax raises the price paid by consumers post-tax to $ 600 and the rec'd by producers post-tax is $ 200. With the excise the tax , what is the quantity of cell phones transacted. c) Without the excise tax, what is the consumer surplus? How much with tax? How much total consumer surplus is lost as a result of the tax? d) Without the excise tax, how much producer surplus is generated? How much producer surplus is lost as a result of the tax? e) How much gov't revenue does the excise tax create? f) What is the deadweight loss from the imposition of the excise tax