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Question 12 8 points Save Answer Consider that the market for modified electronic cigarettes, mod e-cigs, is described by the following demand and supply equations: Q = 488 - 3.5P and Qs = 2.5P - 80, where P is the price in dollars for one mod e-cig, and Qp and Q measure the quantity of mod e-cigs per quarter. The market is currently in equilibrium. (Question 6 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. Describe the current market outcome. As a result of the government's policy, the current market outcome is and the price buyers pay is $88. Additionally, as a result of the government's policy buyers, who are v price changes, face d their consumers' surplus is v it was before the government's intervention. a higher tax burden compared to a lower tax burden compared to efficient not responsive to A Click Submit to complete this assessment. greater than more responsve to