Question: Suppose that after an excise tax was imposed on sofas, the price buyers paid for sofas increased by $5. Suppose further that the price elasticity

Suppose that after an excise tax was imposed on sofas, the price buyers paid for sofas increased by $5. Suppose further that the price elasticity of demand for sofas is 1.6 and the price elasticity of supply for them is 1.8. It can be concluded with certainty that the amount of the excise tax was

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