Suppose the supply curve is perfectly inelastic and the equilibrium price is $5 and equilibrium quantity is 7.If the government impose an excise tax of $1 per unit,what will be the new price and quantity traded? What is the total tax revenue and who pays the tax?

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The Answer of Suppose the supply curve is perfectly inelastic and the equilibrium price is $5 and equilibrium quantity is 7.If the government impose an excise tax of $1 per unit,what will be the new price and quantity traded? What is the total tax revenue and who pays the tax?

Suppose the Supply Curve Is Perfectly Inelastic and the Equilibrium