Question: if the demand is P = 145 - 3Q & supply is P = 35 + 2Q, what is the equilibrium price and quantity in
if the demand is P = 145 - 3Q & supply is P = 35 + 2Q, what is the equilibrium price and quantity in this market?
For this question, the demand is P = 145 - 3Q & supply is P = 35 + 2Q.
To enable more citizens to buy more gasoline, the Government decides to give gasoline producers a subsidy of $5 per unit- What price will consumer's pay and how much gasoline will they buy?
How much will the Government spend on the subsidy? What will be the change in producer surplus?
What will be the change in consumer surplus?
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