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of 45 Suppose the market for wheat can be described by the following equations: Demand: Qd = 72 -4.3P Supply: Qs = 7+3.9P where P

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of 45 Suppose the market for wheat can be described by the following equations: Demand: Qd = 72 -4.3P Supply: Qs = 7+3.9P where P is the price of wheat in dollars per bushel, and Q is the quantity in billions of bushels. Suppose the government grants a subsidy of $1.8 per bushel to the wheat producers. What percentage of the subsidy will consumers receive? Answer: % (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES.)

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