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Problem 4 l5 points! Analyzing a subsidy m sedans sedans Shorta _e m_ _ 91m sane l 0k, we haven't covered subsidies, but if you understand how to analyze sales taxes, you should be able to apply the same logic to subsidies. To earn the last 5 points onthis exam, Iwant to see if you can gure this one out. A subsidyr is really just a negative tax We currently have a subsidy (federal tax credit) on electric cars, so if a company receives $4, from a consumer, the consumer gets some money back from the government and the price actually paid by consumers ends up lower than the price received by sellers. This video from hdar' Revolution University}:r might help feel free to check Khan Academy, the textbook or other sources for help. Using the table om #3, either draw a newr graph, or use the elasticities from to gure out ho'vI.r a $l,{l federal subsidy on electric cars would affect buyers and sellers. You can show your work on the graph, or with the elasticities, or just explain your logic. Starting from the original equilibrium, gure out: a) The new price paid by consumers- b) The new price received by sellers. c) The new equilibrium number of electric cars sold. d) How much the subsidy would cost the government