Question: Please do not simply answer questions. Please provide work. Thank you. Question 10 3 points Save Answer Consider that the market for modified electronic cigarettes,

Please do not simply answer questions. Please provide work. Thank you.

Please do not simply answer questions. Please provide work. Thank you. Question

Question 10 3 points Save Answer Consider that the market for modified electronic cigarettes, mod e-cigs, is described by the following demand and supply equations: Qp = 488 - 3.5P and Q = 2.5P - 80, where P is the price in dollars for one mod e-cig, and Q and Q measure the quantity of mod e-cigs per quarter. The market is currently in equilibrium. (Question 4 of 6) Concerned about the appeal of mod e-cigs among teenagers, and the potential long lasting health problems they may incur from using these devices, the local government decides to implement an excise tax of $4.80 per unit of mod e-cig traded. After its implementation, with no additional external factors, the market adjusts. Given the current market environment, what is the current quantity traded? (report your answer at 2 decimal places as tons per quarter). A Moving to another question will save this response. &gt

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