Suppose graph below depicts the market for smart phones. 10 points Price ($) D 1200 Tools eBook Ask 1000 S +TAX References 800 600 400 200 150 300 $50 600 250 900 1050 1200 1350 500 7650 1800 Quantity per month b) Suppose the government imposes a $300 excise tax on smart phones. Draw in the new supply curve labelled S-tax in the graph above. Plot only 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