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QUESTION
Consider a perfectly competitive market with inverse market supply P = 5 + 3Qs and inverse market demand P = 50 - 2Qd. Suppose the government...
Consider a perfectly competitive market with inverse market supply P = 5 + 3Qs and inverse market demand P = 50 - 2Qd. Suppose the government subsidizes this market with a subsidy of $5 per unit. What is the equilibrium quantity traded after
a. 7.5
b. 10
c. 9
d. 12.5
