Question: If the demand is P = 155 - 3Q & supply is P = 35 + 2Q, what is the equilibrium price and quantity in

If the demand is P = 155 - 3Q & supply is P = 35 + 2Q, what is the equilibrium price and quantity in this market?

To enable more citizens to purchase gasoline, the Government decides to give gasoline producers a subsidy of $10 per unit. Using the supply and demand equations from #2. 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? These questions require numeric answers-

What will be the change in consumer surplus? These questions require numeric answers

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