Help Save & Exit Subr Check my work ($) Price Tax imposed on: Supply Demand 90 $90.00 80 Excise Tax (0 - $20) 0.00 70 Demand 60 Perfectly Relatively 50 S Inelastic Elastic $50.00 Relatively Elastic 40 Supply 30 Less Perfectly 20 Elastic Elastic Perfectly Elastic 10 CALCULATIONS 0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Quantity (thousands per week) Price Paid Quantity No Tax $50.00 4,000 With Tax $50.00 4,000 Instructions: Set demand relatively inelastic such that the X intercept of the demand curve is 6 (this corresponds to a vertical intercept of 150), supply relatively elastic such that the vertical intercept is $10, and there is no excise tax (set to $0). a. What is the equilibrium price? $ b. What is the equilibrium quantity? units