Question: , The table below presents the annual market for sofas in Akron, Ohio. Suppose the state government imposes a $150 excise tax on every sofa

, The table below presents the annual market for sofas in Akron, Ohio. Suppose the state government imposes a $150 excise tax on every sofa sold to be paid by customers at the point of sale. Market for Sofas Price Quantity of Sofas Quantity of Sofas Quantity of Sofas Demanded with (dollar's) Demanded Supplied Excise Tax $1 249 * Instructions: Enter your answers as a whole number a. Before the excise tax is imposed, what are the equilibrium price and quantity of sofas in Akron? p=$ Q: sofas

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