Question: LAB - CH 03 1 Saved 7 The data in the table below are for kilos of prawns. Quantity Quantity Supplied Quantity Supplied Price Demanded

LAB - CH 03 1 Saved 7 The data in the table below are for kilos of prawns. Quantity Quantity Supplied Quantity Supplied Price Demanded (before tax) (after tax) $23 265 205 25 245 215 10 27 225 225 points 29 205 235 31 185 245 eBook 33 165 255 35 145 265 Print References a) What is the present equilibrium price and quantity? Equilibrium price: $ Equilibrium quantity: Suppose that the government introduces a $6 excise tax on prawns. b) Complete the Quantity Supplied (after tax) that results. c) What will be the new equilibrium price and quantity? New equilibrium price: $ New equilibrium quantity

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