Question: Suppose that the market demand function for cows is Q = 8 , 0 0 0 , 0 0 0 p 2 , where Q

Suppose that the market demand function for cows is Q =8,000,000p2, where Q is the number of cows per month and p is the price
per cow. The market supply function is Q = p.
What are the equilibrium price and quantity of cows? What is the consumer surplus, the producer surplus, and welfare?
Now, suppose that the government provides a subsidy of $200 per cow. What are the new equilibrium price and quantity, the consumer surplus, the producer surplus, and welfare?

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