Question: Assuming a competitive market for Rapid Antigen Tests (RATs), explain the effect on equilibrium price and quantity ( by using graphs) of the following scenario:

Assuming a competitive market for Rapid Antigen Tests (RATs), explain the effect on equilibrium price and quantity ( by using graphs) of the following scenario:

Production-related financial incentives such as subsidies to purchase raw materials provided by the government to manufacturers of RATs.

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