Question
I keep seeing two answers (932.13 and 32.13) for the following question and don't know which one is right? Can both be right? If both,
I keep seeing two answers (932.13 and 32.13) for the following question and don't know which one is right? Can both be right? If both, can you explain how to get to each and what the difference is?
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 pricebeforethe subsidy?Please round and write the answer to one cent, for example $2.43 or $0.56. Use a minus sign to indicate if the number is negative.
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