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Consider a perfectly competitive market with market supply of Q S = -1.67 + .33P and market demand of Q D = 25 - .5P.Suppose
Consider a perfectly competitive market with market supply of QS = -1.67 + .33P and market demand of QD = 25 - .5P.Suppose the government subsidizes this market with a subsidy of $5 per unit.What is the equilibrium price and quantity traded before the subsidy? Please round and write the answer and round to two decimals, for example 3.54 or 5.65.Use a minus sign to indicate if the number is negative.Use a minus sign to indicate if the number is negative.
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