8. Suppose the market for \"ridgets is perfectly competitive market. Suppose all con sumers in the marhet are identical and have a utility function between 1Widgets {Hf } and and the composite good (CG) dened by UUV, CG} = 1475C G2. Suppose that the ag gregate demand and industry supply curves for 1Widgets are given by Q9 2 20m 2UP and Qs = 6UP. Suppose the government provides a subsidy of $20 per \"Fidget to all sellers in the market. (a) Find the equilibrium quantity of \"ridgets demanded and supplied; nd the equilib rium market price paid by buyers; nd the equilibrium aftersubsidy price received by rms. (b) Suppose each consumer in the market has a budget m 2 10(1. How many TlMidgets will each consumer consume in equilibrium with the subsidy? In order for all produced "Widgets to be purchased, how many identical consumers would we need? (c) Find consumers: surplus and producers' surplus in the absence of the subsidy. What is the net economic benet in the absence of a subsidy? (d) Find consumers' surplus and producers' surplus in the presence of the subsidy. What is the impact of the subsidy on the government budget? \"-ihat is the net economic benet under the subsidy program? (e) Does the subsidy result in a deadweight loss? If so: how much is it