Suppose a local government votes to impose an excise tax of

$1.20

per bottle on the sales of bottled water. (Assume that all bottles are identical and residents cannot shop elsewhere.) Before the tax the equilibrium price and quantity are

$1.20

and

1800

bottles per day. After the tax is imposed, market equilibrium adjusts to a price of

$2.20

and quantity of

1100

bottles per day.a. Draw the supply and demand diagram before and after the excise tax is imposed.1.) Using the line drawing

tool,

plot the original and new supply curves and label the lines properly.2.) Using the point drawing

tool,

indicate the original and new equilibrium points and label these points properly.Carefully follow the instructions above, and only draw the required objects.