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Need help please Consider the file named Gun Buyback Proposals. Currently, the equilibrium price of this type of guns in the second-hand market is dollars
Need help please
Consider the file named Gun Buyback Proposals. Currently, the equilibrium price of this type of guns in the second-hand market is dollars and equilibrium quantity is units. The government offers to buy these guns at the fixed price of $1,800 each. As a result guns will be sold in the market. Of this amount, will be purchased by the private sector and the remaining units by the government. Food for thought: What would be the difference in the outcome of this policy if the government offered a price of $800 per gun?$2,200 Private Sector Demand $2,000 Private Sector Supply $1,800 $1,600 $1,400 $1,200 Price of Used Guns $1,000 $800 $600 $400 $200 $0 O 1,000 2,000 3,000 5,000 4,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 14,000 13,000 Quantity of Used GunsStep by Step Solution
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